The Philippine government reaffirmed its strong commitment to the World Bank (WB) in protecting jobs, reducing poverty, advancing climate action and addressing inequality, especially as global tensions in the Middle East continue to put pressure on financing and economic stability.
“The Philippines is one with the Bank’s position to ensure that such agendas are sustained across political cycles, recognizing that they are fundamental in building prosperous, inclusive, and sustainable societies,” Secretary Frederick D. Go said during the EDS15 Constituency Meeting.
To better protect Filipinos from these risks, the government called for more timely and concrete support from the Bank, particularly in strengthening crisis preparedness and disaster response. This includes ensuring the continued rollout of disaster risk financing programs that allow the country to quickly access funds during emergencies.
Secretary Frederick Go noted that rising global uncertainties, such as higher oil prices driven by geopolitical tensions, can affect everyday life by increasing the cost of goods, slowing investments, and straining government resources.
He also urged the Bank to streamline its processes for faster approval of crisis-related assistance, enabling the government to respond more quickly when disasters or economic shocks occur.
To sustain economic stability and support development programs, the Philippines further requested continued scaling up of financial support from the Bank, along with more affordable lending terms. This would help ensure that critical investments, specifically those that create jobs and support vulnerable and upper middle income communities, can continue despite global challenges.
The government also called for expanded access to blended financing, combining loans with grants, guarantees, and technical assistance. These can help fund urgent needs, strengthen institutions, and support long-term development.
At the center of these efforts is the goal of creating more quality jobs for Filipinos, ensuring that economic growth translates into better opportunities and improved living conditions for families.
The EDS15 Meeting was chaired by Executive Director Marcos V. Chiliatto of Brazil. The constituency represents Brazil, Colombia, the Dominican Republic, Ecuador, Haiti, Panama, the Philippines, Suriname, and Trinidad and Tobago, and plays a key role in shaping decisions within the World Bank.
“The Philippines reaffirms its commitment to the World Bank’s core mission of promoting quality jobs, poverty reduction, climate action and equity. Together, we move forward with coordinated action through timely support, adequate financing, and practical solutions as we navigate an uncertain global environment,” Secretary Frederick Go added.
