Philippines Second Sustainable Recovery Development Policy Loan (WB-P180336)

Countries
  • Philippines
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jun 28, 2024
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of the Philippines
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Climate and Environment
  • Infrastructure
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 750.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Media Documents
Other Related Projects
Primary Source

Original disclosure @ WB website

Updated in EWS Sep 16, 2024

Disclosed by Bank Nov 16, 2023

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Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the DPL (Development Policy Loan) series aims to support the Government of the Philippines' reforms to: 1) accelerate the economic recovery and boost medium-term growth; and 2) protect the environment and improve climate resilience.

This programmatic DPL series is structured around two pillars corresponding to the development objectives. The proposed operation is the second in a programmatic series of two operations. The pillars are comprised as follows:

• Pillar 1: Accelerate the economic recovery and boost long-term growth by supporting reforms to increase investment and productivity in public service sectors, especially domestic shipping, attract private investment in public infrastructure, increase share of RE in the energy mix, and create more green jobs and direct more investment to green activities and services.
• Pillar 2: Protect the environment and improve climate resilience through reforms to enhance plastic waste reduction, recovery, and recycling, promote green transport, encourage more production and consumption of green goods and services through public procurement, and protect the budget and farmers from climate-related contingent liabilities.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

A preliminary assessment suggests that the proposed DPL is unlikely to cause significant adverse effects on the environment, forests, or other natural resources. The government’s existing policy framework provides an adequate system to address these adverse environmental effects especially through the environmental impact assessment process.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

A PROPOSED LOAN IN THE AMOUNT OF EUR 699,105,000 (US$ 750 MILLION EQUIVALENT)


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

World Bank

Ralph Van Doorn, Gonzalo J. Varela, Jaime Andres Uribe Frias
Senior Economist

Borrower/Client/Recipient

Department of Finance
Benjamin E. Diokno
Secretary of Finance
dofosec2022@gmail.com

Implementing Agencies

Anti-Red Tape Authority
Ernesto V. Perez
Director General
ernestovperez@arta.gov.ph

Bangko Sentral ng Pilipinas
Lyn Javier
Assistant Governor, Policy and Specialized Supervision Sub-S
ljavier@bsp.gov.ph

Bureau of the Treasury
Sharon Almanza
National Treasurer, officer in charge
sharonalmanza@gmail.com

Climate Change Commission
Sandee G. Recabar
Chief, Implementation Oversight Division
recabars@climate.gov.ph

Department of Agriculture
Mercedita Sombilla
Undersecretary, Policy, Planning, and Regulations
mercedita.sombilla@da.gov.ph

Department of Energy
Raphael Perpetuo M. Lotilla
Secretary, Office of the Secretary
rlotilla@doe.gov.ph

Department of Environment and Natural Resources
Maria Antonia Yulo Loyzaga
Secretary
osec@denr.gov.ph

Department of Labor and Employment
Carmela Torres
Undersecretary
citorres@dole.gov.ph

Department of Trade and Industry
Ceferino S. Rodolfo
Undersecretary, Industry Development and Trade Policy Group
ceferinorodolfo@dti.gov.ph

Department of Transportation
Anneli R. Lontoc
Undersecretary for Road Transport and Infrastructure
ar.lontoc@dotr.gov.ph

Government Procurement Policy Board
Rowena Candice M. Ruiz
Executive Director V, Government Procurement Policy Board-Te
rcmruiz@gppb.gov.ph

National Economic and Development Authority
Arsenio M. Balisacan
Secretary
OSEC@neda.gov.ph

Public-Private Partnership Center
Ma. Cynthia Hernandez
Executive Director
mchernandez@ppp.gov.ph

ACCESS TO INFORMATION

To submit an information request for project information, you will have to create an account to access the Access to Information request form. You can learn more about this process at: https://www.worldbank.org/en/access-to-information/request-submission

ACCOUNTABILITY MECHANISM OF THE WORLD BANK

The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. Information on how to file a complaint and a complaint request form are available at: https://www.inspectionpanel.org/how-to-file-complaint

How it works

How it works