The World Bank has approved a $500-million credit line to prepare the Philippines for disasters and climate threats. The funds will be available for three years and can be disbursed during times of natural disasters or health crises.
The drawdown period may be renewed up to four times.
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World Bank Provides $500 Million Standby Funding for Disaster and Climate Preparedness in the PhilippinesThe World Bank is providing a $500 million credit line to support the Philippine government's disaster and climate-related preparedness. The funding can be used to manage disaster and climate risks in various sectors, including education, human settlements, and health systems. The support aims to deliver crucial services to those most affected by disasters or climate events.
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