Finance Secretary Carlos G. Dominguez and World Bank Country Director Mara Warwick signed Thursday (Nov. 28) the loan agreement for the Second Social Welfare Development And Reform Program, which will provide additional financing for the Pantawid Pamilyang Pilipino Program (4Ps). This additional financing from World Bank worth USD 300 million will continue to support the delivery of conditional cash transfers to millions of beneficiaries until 2022. It will also further improve the project’s implementation performance, monitoring and evaluation procedures; and upgrade key dimensions of the 4Ps’ program management.
The World Bank’s budget support for the 4Ps commenced in 2010. With the additional financing, World Bank’s support for the government’s conditional cash transfer program today amounts to USD 1.26 billion.