FINANCE Secretary Ralph Recto welcomed the newly approved Country Partnership Framework (CPF) of the World Bank Group (WBG) for 2026 to 2031, describing it as very much aligned with President Ferdinand Marcos Jr.’s development agenda for inclusive and sustainable growth.
In a statement on Sunday, the DOF said the new CPF for the Philippines ensures that support is tailored to the key priorities of the administration, such as improving healthcare, education, job creation, digitization and building a more resilient and inclusive economy.
“The World Bank has once again proven to be a reliable partner of the Philippines. By anchoring the CPF in the President’s vision, we ensure that development financing addresses our most pressing needs and delivers genuine impact in improving the lives of Filipinos,” Recto said.
“It is designed to help the Philippines build on this positive momentum to create more jobs for its young population, build resilience to shocks, further reduce regional disparities and invest in education and health,” Manuela Ferro, World Bank Vice President for East Asia and Pacific was quoted by the DOF statement as saying.
The CFP strategically guides the WBG’s engagement with member countries, ensuring that support remains targeted and relevant to the beneficiary.
The DOF said the new CPF for the Philippines is “more ambitious and inclusive,” as it is shaped by
wide-ranging consultations with national and local government agencies, academic institutions, civil society organizations, development partners and the private sector.
$22B-$23B in financing
Based on a World Bank document dated May 5, the WBG will provide an indicative $22 billion to $23 billion in financing to implement the 2026 to 2031 CPF.
“Improved access to quality health and education will close the human capital gap and strengthen the capabilities of Filipinos. Through its implementation, the WBG expects to deliver quality health, nutrition and population services to 19 million Filipinos and support better education outcomes for 15 million students,” the DOF said.
Meanwhile, the CPF targets the creation of four million new or improved jobs, expanded broadband access for 19 million Filipinos, and the mobilization of $2 billion in private capital.
“These efforts will generate more productive, higher-paying opportunities, driving inclusive and sustained growth,” the DOF said.
Climate resilience
Recognizing the country’s vulnerability to natural disasters and climate change, the DOF said the CPF places strong emphasis on resilience.
It will support 12.5 million beneficiaries of social protection programs and enhance climate resilience for 13 million people, helping shield communities from future shocks.
Meanwhile, through digital transformation and smarter service delivery, the WBG aims to enable 20 million people to access government services online, making public institutions more accessible, accountable and responsive.
The CPF is a joint strategy of the International Bank for Reconstruction and Development, the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA).
The WBG will provide financial support and advisory services to implement the CPF, including IFC support to mobilize private sector capital, while MIGA will explore opportunities to support investments through its guarantee platform.
