MANILA – Malacañang on Friday stated that President Ferdinand “Bongbong” Marcos Jr. presented to the World Bank Group the priorities of his administration intended to bringing progress and development to the Philippines.
This comes after Marcos revealed on his official Facebook page that he had a meeting with top World Bank executives on Thursday in New York City.
“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.
In a press release, Press Secretary Trixie Cruz-Angeles stated that 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.
According to Cruz-Angeles, Marcos and the World Bank officials also discussed the significance of research and development, and the Philippine government’s efforts to establish the country’s own virology institute.
She said Marcos 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.
Marcos and the World Bank executives, according to Cruz-Angeles, also discussed financial inclusion and the goal to digitalize around 50 percent of individual transactions by 2023.
Also present during Marcos’ meeting with top officials of the World Bank were 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.
The World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries.
Its five institutions are committed to alleviating poverty, expanding shared prosperity, and fostering sustainable development.
Since 1945, its partnership with the Philippines has mobilized funding, global knowledge, and stakeholder collaboration to assist its efforts to alleviate poverty, improve infrastructure, and enhance health, nutrition, and education.
The World Bank Group has been actively helping spur private sector growth in the agriculture sector over the years, as well as in expanding engagement with civil society, and promoting peace and development in Mindanao.
