Boost for Philippines: World Bank pledges support for ‘Build Better More’, agriculture and

The Philippines received a boost in its development goals as the World Bank reaffirmed its commitment to support the country’s infrastructure program, tax collection efforts, and other key initiatives.

Following a meeting on April 17, 2024, between Philippine Finance Secretary Ralph Recto and World Bank Group president Ajay Banga, the WB pledged to enhance tax collection, empower young entrepreneurs and boost food security.

A dedicated team will be assembled to conduct workshops and assist the Department of Finance (DOF) in improving its digital infrastructure for efficient tax collection.

The World Bank also expressed commitment to President Marcos’ infrastructure initiative, potentially offering advisory services on public-private partnership projects.

This meeting signifies a strengthened partnership between the Philippines and the World Bank. The WB’s support will be crucial in tackling key development challenges and achieving the Philippines’ long-term goals.