September 8, 2024 | 12:00am
MANILA, Philippines — The World Bank is coming up with a new country partnership framework (CPF) that will identify programs it will support in the Philippines in the next four years.
A document from the World Bank showed that multilateral lender is holding stakeholder consultations for its CPF for the Philippines for 2025 – 2028.
The World Bank Group’s CPF will identify the key objectives, results and programs it intends to support in the Philippines in its efforts to end poverty and promote shared prosperity.
The multilateral lender’s priorities in the Philippines will be aligned with the AmBisyon Natin 2040 or the collective long-term vision of a strongly rooted, comfortable and secure life for Filipinos.
It will also be in line with the Philippines’ overall development blueprint or the Philippine Development Plan 2023 to 2028, which aims to create jobs and accelerate poverty reduction by achieving higher economic growth.
Under the upcoming CPF, the World Bank wants to support better quality of life in the Philippines through enhanced economic opportunities, strengthened human capital and greater resilience in a greener and more sustainable environment.
To achieve inclusive growth and jobs, the World Bank identified the need for increased firms’ and farms’ productivity, a competitive business environment to create more and better jobs, as well as inclusive finance.
For stronger human capital, the multilateral lender cited the importance of improving health and nutrition and enhancing the quality of education and skills.
In order to have resilient communities, the World Bank said there should be improved resilience to shocks and climate change and better quality of services in conflict-afflicted and poor, disadvantaged communities.
To achieve environmental sustainability, the World Bank cited the objective to shift to a greener, climate-resilient economy.
The World Bank’s CPF is updated every four to five years. It also undergoes a review and may have some adjustments, if needed.
Under the current Philippines’ CPF, the World Bank’s key programs are on sustainable economic recovery, increasing agricultural productivity, nutrition interventions to reduce stunting, social protection, disaster risk management and emergency support for the coronavirus disease.
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