Appraisal Program Information Document (PID) - Philippines Promoting Competitiveness and Enhancing Resilience to Natural Disasters Sub-Program 3 - P176891 (English)

World Bank Lending 600.00 Decision The review did authorize the team to appraise and negotiate B. Introduction and Context The Philippines is facing an incredible challenge in reverting the devastating effects of COVID-19 on the economy, but the macroeconomic policy framework is suitable for the purpose of the proposed operation. [...] The effort to flatten the infection curve while mitigating the impact of the pandemic on the economy remains a major policy challenge. [...] The DPL series has progressively increased the scope and ambition of its reforms to reflect the government’s priority reforms and adjusted in response to the challenges arising from the COVID crisis. [...] Despite the negative impact of the pandemic and increasing fiscal needs, the government is committed to the effective implementation of reforms with the financial and technical supports from the World Bank. [...] In addition, the DPL supports the government’s efforts to strengthen disaster and climate risk management, directly aligned with the third objective of the CPF.