1. What We Do

Third Philippines Development Policy Loan

Abstract*

The Third Philippines Development Policy Loan to Foster More Inclusive Growth objective is to support sustained and inclusive growth and job creation. The means to achieving this objective are through increasing physical and human capital investment; tackling regulatory barriers in land, labor, and capital markets; all in the context of ensuring fiscal sustainability and boosting fiscal governance and transparency. The project consists of five pillars...

* The project abstract is drawn from the PAD, SAR or PGD and may not accurately reflect the project's current nature

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Development Objective

The means to achieving this are through increasing physical and human capital investment; tackling regulatory barriers in land, labor, and capital markets; all in a context of ensuring fiscal sustainability and boosting fiscal governance transparency. The operation consists of five pillars: (i) strengthening priority public investments implementation, (ii) reducing the cost of doing business for jobs creation and poverty reduction; (iii) developing the human capital of the poor; (iv) fiscal transparency and good governance; and (iv) consolidating fiscal sustainability through revenue mobilization and risk management. The operation is the third among a series of three programmatic DPLs supporting government reforms through 2015.

Key Details

Project Details

  • P147803

  • Closed

  • Kai-Alexander Kaiser

  • N/A

  • Philippines

  • September 26, 2014

  • (as of board presentation)

    September 26, 2014

  • January 12, 2015

  • US$ 300.00 million

  • Department of Finance

  • East Asia and Pacific

  • 2015

  • US$ 300.00 million

  • N/A

  • Not Applicable

  • December 31, 2015

  • BANK APPROVED

  • P126580

  • August 20, 2020

  • Notes

Sectors

Created with Highstock 5.0.14FY17 - Other Agriculture, Fishingand ForestryFY17 - Other Agriculture, Fishing and ForestryFY17 - Other PublicAdministrationFY17 - Other Public AdministrationFY17 - Secondary EducationFY17 - HealthFY17 - Other Industry, Trade andServicesFY17 - Other Industry, Trade and Services

Themes

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

No data available.
Financier Commitments
International Bank for Reconstruction and Development 300.00

Total Project Financing (US$ Millions)

Product Line IBRD/IDA
IBRD Commitment 300.00
IDA Commitment N/A
IBRD + IDA Commitment 300.00
Lending Instrument
Grant Amount N/A
Total Project Cost** 300.00

Summary Status of World Bank Financing (US$ Millions) as of April 30, 2025

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No data available.
Financier Approval Date Closing Date Principal Disbursed Repayments Interest, Charges & Fees

Detailed Financial Activity as of April 30, 2025

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No data available.
Period Financier Transaction Type Amount (US$)
Nov 15, 2019 IBRD-84350 Int Charges 5,044,666.50
May 15, 2019 IBRD-84350 Int Charges 5,354,583.50
May 15, 2018 IBRD-84350 Int Charges 3,439,000.00
Nov 15, 2018 IBRD-84350 Int Charges 4,891,333.50
Jun 24, 2015 IBRD-84350 Loan Disb 299,249,984.00
May 15, 2015 IBRD-84350 Int Charges 2,126.87
Jan 12, 2015 IBRD-84350 Loan Disb 750,000.00
Jan 12, 2015 IBRD-84350 Fee Charges 750,000.00
Nov 15, 2015 IBRD-84350 Int Charges 1,128,783.40
May 15, 2016 IBRD-84350 Int Charges 1,744,166.60
Nov 15, 2016 IBRD-84350 Int Charges 2,269,333.20
May 15, 2017 IBRD-84350 Int Charges 2,820,583.20
May 15, 2024 IBRD-84350 Int Charges 107,674.32
May 15, 2024 IBRD-84350 Int Charges 8,115,000.00
May 15, 2024 IBRD-84350 Int Charges 59,153.86
Sep 26, 2014 IBRD-84350 Loan Commitment 300,000,000.00
Nov 15, 2023 IBRD-84350 Int Charges 179,726.81
Nov 15, 2023 IBRD-84350 Int Charges 9,320,567.00
Nov 17, 2023 IBRD-84350 Loan Disb -300,000,000.00
Nov 17, 2023 IBRD-84350 Loan Disb 300,000,000.00
May 15, 2023 IBRD-84350 Int Charges 420,759.38
May 15, 2023 IBRD-84350 Int Charges 7,755,766.50
Nov 15, 2022 IBRD-84350 Int Charges 4,778,677.00
May 15, 2022 IBRD-84350 Int Charges 1,448,000.00
Nov 15, 2021 IBRD-84350 Int Charges 1,410,666.60
Nov 15, 2020 IBRD-84350 Int Charges 2,100,666.80
May 15, 2021 IBRD-84350 Int Charges 1,432,916.60
May 15, 2020 IBRD-84350 Int Charges 3,958,500.00
Nov 15, 2017 IBRD-84350 Int Charges 3,204,666.80
Footnotes

Ratings

IMPLEMENTATION RATINGS

No data available.

COMPLETION RATINGS

INDICATORIMPLEMENTATION COMPLETION & RESULTS REPORT: 05-12-2017
OutcomesSubstantial
Risk to Development OutcomeNegligible
Bank PerformanceSubstantial
Borrower PerformanceSubstantial
Government PerformanceSubstantial
Implementing AgencySubstantial

INDEPENDENT EVALUATION RATINGS

INDICATORICR REVIEW: 11-03-2017PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome RatingSatisfactory N/a
Risk To Development OutcomeSubstantialN/a
Bank PerformanceSatisfactoryN/a
Borrower PerformanceSatisfactoryN/a
Government PerformanceSatisfactoryN/a
Implementing AgencyNot RatedN/a
Icr QualitySubstantialN/a
M&e QualitySubstantialN/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATORBASELINECURRENTTARGET

INTERMEDIATE RESULTS INDICATORS

INDICATORBASELINECURRENTTARGET
  • Tax revenue ratioValue12.3013.3014.10
    DateDecember 31, 2010December 31, 2013December 31, 2014
    Comment
  • Health: Increased utilization of health services among poor and near-poor households from less than 1 outpatient visit per capita to at least 1.5 per capitaValue0.000.001.50
    DateDecember 31, 2010December 31, 2013December 31, 2014
    Comment
  • Students-to-Classroom ratio, Top 25th Pct, SecondaryValue59.9848.9159.98
    DateDecember 31, 2010December 31, 2013December 31, 2014
    Comment
  • Net Enrollment (Primary)Value88.1095.2494.00
    DateDecember 31, 2010December 31, 2013December 31, 2014
    Comment
  • Net Enrollement (Secondary)Value59.6064.6176.00
    DateDecember 31, 2010December 31, 2013December 31, 2014
    Comment
  • Investment (Public+Private), as Share of GDPValue20.5019.4020.50
    DateDecember 31, 2013December 31, 2014
    Comment
  • Student Teacher Ratio, Top 25th Pct, PrimaryValue40.3740.3640.37
    DateDecember 31, 2010December 31, 2013December 31, 2014
    Comment
  • Student Teacher Ratio, Top 25th Pct, SecondaryValue42.0334.6042.03
    DateDecember 31, 2013December 31, 2013December 31, 2014
    Comment
  • Ease of Doing Business/Days to Register a Business (Sole Propietorships)Value>10 days<10 days
    DateDecember 31, 2010June 2, 2014December 31, 2014
    Comment
  • Health: Reduced out-of-pocket payments for health care among insured poor households.Value0.000.000.00
    DateDecember 31, 2010December 31, 2013December 31, 2014
    Comment
  • Non-Financial Public Sector Debt / GDPValue52.4049.2050.00
    DateDecember 31, 2010December 31, 2013December 31, 2014
    Comment
  • Enhanced budget transparency through the existence of a unified Account Code Structure, including the Chart of Accounts, and the timely publication of budget execution data.ValueNoYesYes
    DateJanuary 3, 2011January 1, 2014December 31, 2014
    Comment
  • Students-to-Classroom ratio, Top 25th Pct, PrimaryValue43.8033.8843.80
    DateDecember 31, 2011December 31, 2013December 31, 2014
    Comment
  • Public Infrastructure Investment Increased to over 3.5 percent of GDP per annum (from <2.5 percent)Value2.502.503.50
    DateNovember 30, 2010December 31, 2013December 31, 2014
    Comment
  • DPWH Public Investment Project Portfolio Prioritization improved, as measured by percent value of budgeted contracts bid in first half (to over >50 percent)Value31.0051.0050.00
    DateDecember 31, 2010December 31, 2013December 31, 2014
    Comment
  • #Major DPWH Converegence Infrastructure Programs w/ Poverty & Jobs TargettingValue0.004.004.00
    DateDecember 31, 2010December 31, 2014December 31, 2014
    Comment
  • Improvements in three PEFA Scores (PI 5, PI10, PI24)Value03
    DateDecember 31, 2010December 31, 2014December 31, 2014
    Comment
  • Number of NHTS-PR individuals/families covered by Philhealth (100% of those defined eligible in millions--> 47.8 percent of list)Value21.0047.8047.80
    DateDecember 31, 2012December 31, 2014December 31, 2014
    Comment
  • Number of NHTS-PR families enlisted with a primary care benefit (PCB) provider (9.54 million or 65% of total, from 0).Value0.002.009.54
    DateDecember 31, 2010December 31, 2013December 31, 2014
    Comment
  • Number of claims by NHTS-PR families at Philhealth-accredited providers in the previous year (>27 % share)Value20.0027.0027.00
    DateDecember 31, 2010December 31, 2013December 31, 2014
    Comment
  • Tax admin gains by BIR yield 1 percentage point net gain in revenues (from 9.1 percent of GDP 2010 baseline)Value0.001.301.00
    DateDecember 31, 2010December 31, 2014December 31, 2014
    Comment
  • Excises from alcohol and tobacco increases from 0.5 to 0.9 % of GDP between 2010 and 2014Value0.500.900.90
    DateDecember 31, 2010December 31, 2013December 31, 2014
    Comment
  • Enhanced evidence based stakeholder awareness of key tax expenditures and fiscal risks (PPP, natural disasters, GOCCs)Value0 (no public report) + awarness score is 0>1>1
    DateDecember 31, 2010December 31, 2014December 31, 2014
    Comment
  • GOCC contribution to net annual government deficit (reduced to 1.5 %)Value4.001.501.50
    DateDecember 31, 2010December 31, 2013December 31, 2014
    Comment
  • Majority of top 20 GOCCs as measured by government transfers between 2010-2013 are subject to completed GCG Performance Evaluation Contracts for 2013/14 (0 to >75 percent)Value0.000.0015.00
    DateDecember 31, 2010December 31, 2014
    Comment
  • DPWH ContributionValue0.000.000.00
    DateDecember 31, 2010December 31, 2014
    Comment