Tuesday, October 4, 2022

PBBM, World Bank Tackle PH Gov’t Priorities

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President Ferdinand “Bongbong” Marcos Jr. presented to the World Bank Group his administration’s priorities aimed at bringing progress and development to the Philippines, Malacañang said Friday.

This, after Marcos shared on his official Facebook page that he had a meeting with top World Bank executives in New York City on Thursday.

“The World Bank has stood with the Philippines in the most challenging times, bringing resources, linkages, and partnerships to bear on the country’s social, economic, and environmental initiatives since 1945,” Marcos said.

“We are incredibly grateful and proud to continue partnering with the World Bank to improve the lives of Filipinos,” he added.

Press Secretary Trixie Cruz-Angeles, in a press statement, said Marcos met with Manuela Ferro, Regional Vice President of the World Bank for East Asia and the Pacific, and  Erivaldo Gomes, World Bank Executive Director for the Philippines.

“They discussed how to align the work of the Bank with the President’s priorities such as agriculture, clean energy, education and post Covid economic recovery,” Cruz-Angeles said.

Marcos and the World Bank officials also discussed the importance of research and development, as well as the Philippine government’s efforts to establish the country’s own virology institute, Cruz-Angeles said.

Marcos, she said, noted that many Filipino experts still need to undergo further training.

“They exchanged views on the state of Philippine agriculture and the areas that need to be addressed. The President also noted the needs and requirements of MSMEs (micro, small and medium enterprises) in order to continue to become viable and competitive,” she said.

Cruz-Angeles said Marcos and the World Bank executives also touched on financial inclusion and the target to digitalize about 50 percent of personal transactions by 2023.

Philippine Ambassador to the US Jose Manuel Romualdez, Finance Secretary Benjamin Diokno, Bangko Sentral ng Pilipinas Governor Felipe Medalla, Trade Secretary Alfredo Pascual, Socioeconomic Planning Secretary Arsenio Balisacan, and House Speaker Martin Romualdez were also present during Marcos’ meeting with top officials of the World Bank.

The World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries.

Its five institutions share a commitment to reducing poverty, increasing shared prosperity, and promoting sustainable development.

Its partnership with the Philippines since 1945 has mobilized funding, global knowledge, and collaboration with stakeholders to support its undertakings in alleviating poverty, upgrading infrastructure, and improving health, nutrition and education.

Over the years, the World Bank Group has been actively helping spur private sector growth in the agriculture sector, as well as in expanding engagement with civil society, and promoting peace and development in Mindanao. (PNA)

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