$100M loan of the Philippines is now approved
The Philippines has applied for $100M loan from the World Bank for emergency response amid the COVID-19 crisis and it was approved.
In these times of health crisis, the country is having urgent healthcare needs and in order to address this problem, the fund is needed. With regard to this, the World Bank has recently stated that the loan financing will give assistance to the Philippines.
âBoosting the countryâs capacity to respond to COVID-19 will save lives,â World Bank acting country director for Brunei, Malaysia, Philippines, and Thailand Achim Fock said.
He added that the World Bank is proud that the “government has taken quick and decisive action in the fight against the COVID-19 pandemic.”
Based on the report from GMA News Online, the emergency response project will be headed by the Department of Health (DOH). This project mainly aims to provide personal protective equipment (PPE) to healthcare frontliners.
Additionally, through this initiative, it can be assured that equipment will reach the health facilities without delays. This will also help the preparation for locations needed for hospital isolation and treatment centers exclusively intended to manage Severe Acute Respiratory Infections (SARI) patients.
Aside from these, the project also aims to fund the expansion of laboratory capacity in the country. It will also sustain or add the needed equipment in the facility of Research Institute for Tropical Medicine (RITM). This will include the sub-national and public health laboratories in Baguio, Cebu, Davao, and Manila.
Based on the report, the funding will also intend to finance the expansion of laboratory capacity in priority regions that as of the moment do not have the facilities needed.
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