World Bank OKs $600 million loan towards Philippines learning upgradeIn a statement yesterday, the multilateral lender said that its board of executive directors approved the loan for the Project for Learning Upgrade Support and Decentralization. MANILA, Philippines — The World Bank has approved a loan amounting to $600 million to support a project that will help address the learning crisis in the Philippines. In a statement yesterday, the multilateral lender said that its board of executive directors approved the loan for the Project for Learning Upgrade Support and Decentralization. It will support the DepEd’s learning acceleration and recovery program, while improving how learning is measured. “For the Philippines, sustaining growth and creating more jobs will depend on strong human capital – a workforce with solid foundational skills in literacy and numeracy,” Zafer Mustafaoglu, World Bank division director for the Philippines, Malaysia and Brunei, said.
