Phl seeks more concessional financing from World Bank
The Philippine Star|October 26, 2024
The Philippines is seeking more concessional financing from the Washington-based World Bank to fund the country's priority projects.
LOUISE MAUREEN SIMEON

On the sidelines of the World Bank-International Monetary Fund annual meeting in Washington, Finance Secretary Ralph Recto called on the multilateral lender to provide more concessional financing to the Philippines.

Concessional finance is a kind of loan with more favorable terms that a certain borrower can get from the market. This is typically provided by development banks and multilateral funds to developing economies like the Philippines.

It also targets high-impact projects responding to globally significant development challenges.

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