World Bank’s $4.13-M grant to finance Phl projects — DoF

The Department of Finance (DoF) announced that the World Bank has approved three grant agreements with a combined worth of $4.13 million in preparation for large-scale development projects by various government agencies.

In a statement, the DoF said the grants — while still subject to government approval — will “drive employment and reduce poverty,” while being provided at no cost to the Philippine government, “fully funding critical preparatory work and enabling the government to preserve fiscal space while advancing priority projects.”

The funding comes from the World Bank’s Grant Facility for Project Preparation (GFPP), a support mechanism that provides grant-based assistance to help borrowers overcome project-preparation barriers, ensuring projects are well-structured, investment-ready, and aligned with global best practices.

The GFPP provides financial backing for preparatory work, allowing agencies to complete complex planning requirements without immediately drawing from the national budget.

The DoF said this approach helps speed up delivery timelines, reduce implementation risks, and ensure projects meet international standards for environmental protection, financial sustainability, and social safeguards.

Further, it said three initiatives from three government agencies secured support from the GFPP this year.

The Department of Information and Communications Technology (DICT) secured $1.71 million — the largest among the approved grants — for the Philippines Digital Infrastructure Project Scale-Up (Phase II).

The initiative will expand broadband connectivity in underserved areas, particularly Western Mindanao and the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), with the funding covering feasibility studies, engineering plans, stakeholder consultations, and capacity-building for implementing agencies.

Meanwhile, the Department of Agriculture’s Improving MSME Access to Finance and Resilience to Climate Shocks Project received $1.21 million to strengthen agricultural financing systems, modernize insurance mechanisms, and reinforce rural development institutions.