The World Bank has approved a $1.14 billion loan to the Philippines to help save the planet from climate change. Funds will also be allocated for agriculture and environmental protection. In this respect informs Reuters cites the organization’s message.
While the publication stated that the country was approved for a loan totaling $1.14 billion, the maturity and interest rate of the loan were not disclosed.
According to the agency, the allocated funds will be used to solve climate change problems in the region, increase agricultural productivity and improve the quality of education.
old ukraine accepted a $132 million loan from the World Bank to support agriculture. In particular, this money will be used to improve the situation in the food industry and ensure food security, according to the head of the country’s Ministry of Finance, Sergei Marchenko.
In April, Bloomberg columnist Mihir Sharma WroteThe International Monetary Fund’s (IMF) allocation of a new $15.6 billion tranche to Ukraine angered developing countries, which are increasingly convinced of the bias of the fiscal structure.