Philippines: Support for Strategic Local Development and Investment

June 29, 2006

BRD LOAN: US$100 million
TERMS: Grace period = 5 years; Maturity = 20 years.

PROJECT DESCRIPTION: The project will improve local public service provision and management by facilitating Local Government Unit access to viable financing to implement strategic investments for infrastructure and social services. The Land Bank of the Philippines (LANDBANK), as the borrower of the World Bank loan, will provide sub-loans to LGUs, public utilities and private operators to enable LGUs to implement investment subprojects that have been identified in the LGUs’ development plans.

Media Contacts
Mohamad Al-Arief
Tel : (202) 458-5964