World Bank Commits $500 Million for Rebuilding Typhoon-Damaged Schools in the Philippines.
November 27, 2024
Manila: Finance Secretary Ralph Recto has formally entered into a $500-million financing agreement with the World Bank-International Bank for Reconstruction and Development (WB-IBRD) aimed at reconstructing over 3,000 schools nationwide that were damaged by typhoons. According to Philippines News Agency, the agreement was signed by Recto and Zafer Mustafaoglu, the World Bank Group’s Country Director for the Philippines, Malaysia, and Brunei, on November 18, 2024. This initiative, named the Infrastructure for Safer and Resilient Schools Project, focuses on the repair, rehabilitation, retrofitting, and reconstruction of educational facilities that have been affected by natural hazards from 2019 to 2023, targeting regions
