World Bank plans new CPF to boost PH development

The World Bank is crafting a new Country Partnership Framework (CPF) for the Philippines, outlining its support programs for the next four years. This initiative is part of the World Bank Group’s ongoing efforts to enhance development and economic growth in the country.

The World Bank is currently engaging in stakeholder consultations to shape its CPF for the 2025-2028 period. The new framework will set forth the key objectives, results, and programs the bank will support in the Philippines, aligning its efforts with national development goals and long-term visions.

According to a document from the World Bank, the forthcoming CPF will be closely aligned with AmBisyon Natin 2040, the Philippines’ collective long-term vision for a more secure and prosperous life for its citizens. Additionally, the CPF will complement the Philippine Development Plan 2023-2028, which focuses on job creation, economic growth, and poverty reduction.

The World Bank aims to improve the quality of life in the Philippines through several strategic priorities. These include enhancing economic opportunities, strengthening human capital, and promoting environmental sustainability. The new CPF will focus on increasing productivity in firms and farms, fostering a competitive business environment, and improving inclusive finance to create better job opportunities.

In terms of human capital, the World Bank will emphasize better health and nutrition, as well as improving the quality of education and skills development. For resilience, the framework will target increased resilience to climate change and shocks, along with enhancing services in conflict-affected and disadvantaged communities.

The CPF will also address environmental sustainability by supporting a transition to a greener and more climate-resilient economy. These objectives reflect the World Bank’s commitment to supporting inclusive growth and sustainable development in the Philippines.

The CPF is updated every four to five years and undergoes periodic reviews and adjustments as necessary. The current CPF focuses on areas such as sustainable economic recovery, increasing agricultural productivity, addressing malnutrition, social protection, disaster risk management, and providing emergency support related to the COVID-19 pandemic.

By aligning its programs with national priorities and addressing key development challenges, the World Bank seeks to play a pivotal role in advancing the Philippines’ economic and social progress over the coming years.