The World Bank (WB) approved a loan of 750 million USD on November 13 to help boost digital transformation in the Philippines. Illustrative photo (Photo: philstar.com)Hanoi (VNA) – The World Bank (WB) approved a loan of 750 million USD on November 13 to help boost digital transformation in the Philippines. According to the bank’s press release, the Second Digital Transformation Development Policy Loan supports the Philippines' efforts to transform the country's digital sector through enhanced connectivity, digitalisation, a dynamic innovation ecosystem, and private sector partnerships. The WB emphasised that greater digitalisation is crucial for an economy like the Philippines, characterised by a large population spread across many islands. It added that digital connectivity and Filipinos' participation in the digital economy are vital to bridging geographic and socio-economic divides.

Source: Philippine Star November 14, 2024 04:06 UTC