The World Bank has approved $4.13 million in new grants to fund critical preparatory work for Philippine infrastructure and agricultural projects aimed at job creation and poverty reduction.
The grants, issued through the World Bank’s Grant Facility for Project Preparation (GFPP), allow the Philippine government to advance high-priority developments without depleting fiscal space, as the funds are provided at no cost to the state.
Finance Secretary Frederick Go said the government has fast-tracked clearances for three major agreements to ensure swift implementation. “These grants are vital for project development, and we will ensure they are finalized and signed without delay,” Go said in a statement.
The Department of Agriculture (DA) will receive $1.21 million to modernize insurance systems and strengthen financing for micro, small, and medium-sized enterprises (MSMEs). The project is designed to bolster rural incomes and food security while insulating farming communities against climate-related shocks.
A separate $1.21 million grant was greenlit for the Department of Trade and Industry’s “SMEs COMPETE” project. The funds will cover environmental and social safeguards and project design aimed at scaling local businesses for global market access.
The largest portion of the package, $1.71 million, is earmarked for the Department of Information and Communications Technology (DICT). The funds will support the second phase of the Philippines Digital Infrastructure Project, specifically targeting broadband expansion in underserved regions, including Western Mindanao and the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).
The DICT grant will fund technical feasibility studies and engineering designs to bring high-speed connectivity to the country’s most remote areas.
