The World Bank on Wednesday said it has committed a multibillion-dollar loan assistance to the Philippines over the next three years to finance priority projects under the Philippine Development Plan for 2011 to 2016. Read the rest of this entry »

THE Philippines and Asian Development Bank (ADB) have agreed on a multibillion-dollar loan assistance program over a six-year period that would finance governance reforms and other measures needed to drive broad-based growth and poverty reduction efforts. Read the rest of this entry »

TWO multilateral institutions on Wednesday said they would accelerate their loan assistance to the Philippines for the next three years.

“We are almost coming to an end in our discussion with the government on the medium term strategic direction of the ADB program and the tentative pipeline of our assistance from 2012 to 2014,” Neeraj Jain, country director of the Asian Development Bank told reporters on the sidelines of the Economic Journalists Association of the Philippines forum. Read the rest of this entry »

MANILA, Philippines – The International Finance Corp. (IFC) has implemented a new transparency process prior to investing in projects, making it the first development finance institution to require a systematic corporate-governance analysis of every investment transaction as part of its due diligence process. Read the rest of this entry »

WASHINGTON – French Finance Minister Christine Lagarde appeared poised to become the head of the International Monetary Fund this week despite a strong challenge to Europe’s traditional hold on the job. Read the rest of this entry »

MANILA, Philippines -  The International Finance Corp. (IFC), a member of the World Bank Group, said its $75-million loan to Energy Development Corp. (EDC) will help lower power rates in the country. Read the rest of this entry »

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ITUC/Global Unions’ Response to “Building Resilience and Opportunity: The World Bank’s Social Protection and Labor Strategy 2012-2022 – Concept Note”

Introduction

The World Bank’s decision to engage in external consultations for its new Social Protection and Labour Strategy, which it intends to adopt in 2012, is a positive development and differs substantially from the closed process that led to the adoption of the Bank’s current social protection strategy launched in 2001.  When trade union organizations subsequently confronted the Bank with their apprehensions about the negative impacts of an important section of the 2001 strategy concerning pension reform, the Bank’s social protection department told an international trade union delegation that workers’ organizations had “nothing useful to contribute” to the issue.  The Bank’s request to meet with the International Trade Union Confederation (ITUC) in January 2011 at the start of consultations on the Concept Note for the new SP&L strategy is a welcome contrast. Read the rest of this entry »

INTERNATIONAL TRADE UNION CONFEDERATION
ITUC OnLine
006/180111

(Washington D.C., 18 January 2011): A delegation of over 60 trade union leaders from all parts of the world is beginning a 3-day series of meetings in Washington D.C. with the Managing Director of the IMF, the President of the World Bank and other senior officials, as well as with the Executive Directors of those institutions. Read the rest of this entry »