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By APD writer Melo M. Acuna
**MANILA, Sep.1 (APD) ** – The World Bank Group will soon implement its Metro Manila Flood Management Project under a co-financing arrangement with China-based Asian Infrastructure Investment Bank.
In a separate interview, Finance Secretary Carlos Dominguez III said the AIIB gave the go-signal to provide the Philippines some US$ 207.63 million for the first phase of the said flood control management project.
In a statement released from Washington said the project would be part of the projected US$ 660 million support for the Philippines in 2018.
This comes at the heels of the Performance and Learning Review report endorsed today by the World Bank’s Board of Executive Directors.
Peace-building and development efforts in Mindanao will benefit from the midterm ajustment of the bank’s country partnership strategy.
The scaled-up program for Mindanao will focus on supporting the Philippine government’s program to increase agricultural productivity and improve connectivity from farm to market and boost education, skills and youth employability as well as building resilient communities.
“Mindanao accounts for 36% of all poverty in the Philippines and poverty is highest in areas affected by conflict,” Mara K. Warwick said.
She is World Bank’s country director for Brunei, Malaysia, Philippines and Thailand.
She added the World Bank Group fully supports the Duterte Administration’s focus on developing lagging regions which include Marawi City, site of the 102-day armed conflict which has claimed hundreds of lives and temporary displacement to thousands of Maranaos.
It was learned that the World Bank together with the Asian Development Bank, will coordinate financial assistance from development partners for the rehabilitation and reconstruction of Marawi City.
Technical assistance will also be provided for the early recovery, rehabilitation and reconstruction planning for Marawi City as requested by the Philippine government.
Meanwhile, Victoria Kwakwa, World Bank vice president for East Asia and the Pacific said the partnership with the Philippines augurs well with the country’s development plan for promoting competitiveness, boostring rural development and strengthening resilience against climate change impacts.
The Philippines’ sustained growth averaged 4.6% from 2010 to 2016 with social sector spending contributing to significant recent poverty reduction across the country.
World Bank said the total funding for the Philippines could reach US$ 750 million in 2019 geared towards more vigorous programs for agriculture and education in Mindanao.
(ASIA PACIFIC DAILY)
