World Bank approves $500m COVID-19 loan to the Philippines

The World Bank has approved $500 million in funding to support the Philippine government’s program to purchase and distribute COVID-19 vaccines, strengthen the country’s health systems, and overcome the impact of the pandemic.

The newly approved financing will support the Philippines to vaccinate the population based on vulnerability and risk. Priority groups include frontline health workers, senior citizens, indigent communities, followed by priority groups of teachers, government workers, indigenous peoples, and then the remaining population. Prioritization of vulnerable groups reduces the health and economic consequences of the pandemic, protecting those that are at a high risk of infection and of developing severe COVID and adverse outcomes.