DOF fast-tracks US$4.13-M WB grants
Finance Secretary Frederick D. Go is leading the swift facilitation of government clearances for US$4.13 million in World Bank Grant Agreements, ensuring that the approved projects move swiftly toward implementation to drive employment and reduce poverty.
“I thank the World Bank for its continued support to the Philippines. These grants are vital for project development, and we will ensure they are finalized and signed without delay so the benefits reach our fellow countrymen as soon as possible,” Secretary Go said in a news release.
Through the World Bank’s Grant Facility for Project Preparation (GFPP), three new grants were approved this year to strengthen project preparation — ensuring sound technical, financial, environmental, and social foundations that minimize delays and accelerate project delivery.
Grants are financial assistance from development partners provided at no cost to the Philippine Government, fully funding critical preparatory work and enabling the government to preserve fiscal space while advancing priority projects.
Among the approved initiatives are the following:
1. Improving MSME Access to Finance and Resilience to Climate Shocks Project of the Department of Agriculture (DA). Supported by a US$1.21 million grant, the project will strengthen agricultural financing, modernize insurance systems, and improve rural development institutions. It is envisioned to help the DA address implementation risks early and boost productivity, increase rural incomes, create jobs, improve food security, and help communities better cope with climate-related shocks.
2. Philippines SME COMPETE Project of the Department of Trade and Industry (DTI). The project aims to enhance the local and global competitiveness of small and medium enterprises (SMEs), enabling them to scale up, access wider markets, and generate more employment. The US$1.21-million grant will support robust project design, strong environmental and social safeguards, and coordinated implementation.
3. Philippines Digital Infrastructure Project Scale-up (Phase II) of the Department of Information and Communications Technology (DICT). With US$1.71 million in grant support, the project will expand broadband connectivity in underserved areas, including Western Mindanao and the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). The funding will cover technical and economic feasibility studies, detailed engineering designs, stakeholder engagement, and institutional capacity building, among other critical preparatory activities.
Together, these GFPP-supported projects advance the Marcos, Jr. administration’s agenda of inclusive growth, climate resilience, and digital transformation — ensuring that strategic investments translate into real economic opportunities for Filipinos.
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