The World Bank has approved a $1.02-billion financing package, consisting of a loan and grant, to support efforts to expand and improve access to electricity and water in the Philippines, according to Philstar Biz.
The funding is expected to address key infrastructure gaps in the country, particularly in rural areas where access to reliable electricity and clean water remains limited. The initiative aligns with the Philippine government's long-term development goals.
The World Bank’s support comes as part of broader international efforts to improve sustainable infrastructure in the region, aiming to boost economic growth and resilience against climate change impacts.