Philippines Development Policy Loan to Foster More Inclusive Growth

Abstract*

This program document describes a single-tranche development policy loan (DPL) to the Republic of the Philippines for US$250 million. It is being proposed as the first of a programmatic series of three DPLs to support the Philippines' efforts to foster more inclusive growth by consolidating fiscal discipline, improving competitiveness, strengthening governance and promoting human capital accumulation. The need for more inclusive growth was made evident... Show More

Development Objective

The objective is to help the Philippine authorities respond to challenges posed by the global financial crisis.

Key Details

Project Details

Project ID
P118931
Status
Closed
Team Leader
Saeeda Rashid , Ulrich Lachler, Karl Kendrick Tiu Chua, David Knight
Borrower 2
N/A

Country
Philippines
Disclosure Date
March 31, 2011
Approval Date
(as of board presentation)
May 19, 2011
Effective Date
August 8, 2011

Total Project Cost 1
US$ 250.00 million
Implementing Agency
Department of Finance
Region
East Asia and Pacific
Fiscal Year 3
2011

Commitment Amount
US$ 250.00 million
Environmental Category
N/A
Last Update Date
August 20, 2020
Closing Date
March 31, 2012

Last Stage Reached
BANK APPROVED

Associated Projects
P126580

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Economic Policy

FY17 - Fiscal Policy20%
- FY17 - Fiscal sustainability7%
- FY17 - Tax policy13%

FY17 - Human Development and Gender

FY17 - Education38%
- FY17 - Access to Education19%
- FY17 - Education Financing19%

FY17 - Private Sector Development

FY17 - Business Enabling Environment13%
- FY17 - Regulation and Competition Policy13%
FY17 - Jobs100%

FY17 - Public Sector Management

FY17 - Public Administration6%
- FY17 - Transparency, Accountability and Good Governance6%
FY17 - Public Finance Management26%
- FY17 - Debt Management7%
- FY17 - Domestic Revenue Administration13%
- FY17 - Public Expenditure Management6%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
International Bank for Reconstruction and Development	250.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	250.00
IDA Commitment	N/A
IBRD + IDA Commitment	250.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	250.00

Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025

No data available.

Detailed Financial Activity as of March 31, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
May 19, 2011	IBRD-80500	Loan Commitment	250,000,000.00
Oct 1, 2014	IBRD-80500	Int Charges	1,016,666.70
Nov 21, 2023	IBRD-80500	Loan Disb	209,624,992.00
Oct 1, 2023	IBRD-80500	Int Charges	130,903.97
Oct 1, 2023	IBRD-80500	Int Charges	6,534,022.50
Oct 1, 2023	IBRD-80500	Loan Repay	8,075,000.00
Apr 1, 2024	IBRD-80500	Int Charges	113,829.17
Apr 1, 2024	IBRD-80500	Int Charges	1,922,389.60
Apr 1, 2024	IBRD-80500	Int Charges	4,073,712.50
Apr 1, 2024	IBRD-80500	Loan Repay	8,075,000.00
Oct 1, 2021	IBRD-80500	Loan Repay	8,075,000.00
Apr 1, 2022	IBRD-80500	Int Charges	1,088,528.10
Apr 1, 2022	IBRD-80500	Loan Repay	8,075,000.00
Oct 1, 2022	IBRD-80500	Loan Repay	8,075,000.00
Oct 1, 2022	IBRD-80500	Int Charges	2,901,146.80
Apr 1, 2023	IBRD-80500	Int Charges	304,800.03
Apr 1, 2023	IBRD-80500	Int Charges	5,405,578.00
Apr 1, 2023	IBRD-80500	Loan Repay	8,075,000.00
Apr 1, 2020	IBRD-80500	Int Charges	3,494,791.80
Oct 1, 2020	IBRD-80500	Int Charges	2,262,083.20
Apr 1, 2021	IBRD-80500	Int Charges	1,225,972.20
Oct 1, 2021	IBRD-80500	Int Charges	1,194,583.40
Apr 1, 2019	IBRD-80500	Int Charges	4,158,194.50
Oct 1, 2019	IBRD-80500	Int Charges	4,244,583.50
Oct 1, 2018	IBRD-80500	Int Charges	3,952,291.80
Apr 1, 2018	IBRD-80500	Int Charges	2,742,639.00
Apr 1, 2017	IBRD-80500	Int Charges	2,338,194.50
Oct 1, 2017	IBRD-80500	Int Charges	2,617,916.80
Oct 1, 2016	IBRD-80500	Int Charges	1,868,125.00
Apr 1, 2016	IBRD-80500	Int Charges	1,372,500.00
Oct 1, 2015	IBRD-80500	Int Charges	1,181,875.00
Apr 1, 2015	IBRD-80500	Int Charges	1,049,027.80
Oct 1, 2013	IBRD-80500	Int Charges	1,143,750.00
Apr 1, 2014	IBRD-80500	Int Charges	1,061,666.60
Oct 1, 2014	IBRD-80500	Int Charges	0.01
Nov 21, 2023	IBRD-80500	Loan Disb	-209,624,992.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Progress towards achievement of PDO	Satisfactory	2011-06-15
Monitoring and Evaluation	Satisfactory	2011-06-15
Overall Implementation Progress (IP)	Satisfactory	2011-06-15
Program Management	Satisfactory	2011-06-15

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 05-12-2017
Outcomes	Substantial
Risk to Development Outcome	Negligible
Bank Performance	Substantial
Borrower Performance	Substantial
Government Performance	Substantial
Implementing Agency	Substantial

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 11-03-2017	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Satisfactory	N/a
Risk To Development Outcome	Substantial	N/a
Bank Performance	Satisfactory	N/a
Borrower Performance	Satisfactory	N/a
Government Performance	Satisfactory	N/a
Implementing Agency	Not Rated	N/a
Icr Quality	Substantial	N/a
M&e Quality	Substantial	N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Tax revenue ratio Value 12.80 12.80 0.00
Date December 31, 2010 April 30, 2011
Comment

Tax revenue ratio	Value	12.80	12.80	0.00
	Date	December 31, 2010	April 30, 2011
	Comment