[3] The Philippines is in the constituency entitled EDS 15, comprising Brazil, Colombia, Dominican Republic, Ecuador, Haiti, Panama, Suriname, and Trinidad and Tobago, and headed by Executive Director Fabio Kanczuk.
[10] This is because of less exposure to problematic international securities, lower export dependence, stable domestic consumption, large remittances from overseas Filipinos, and a quickly growing service industry.
[16] From 2015 to 2018, the Philippines and the World Bank engaged in the Country Partnership Strategy to create better jobs, increase shared prosperity, and eradicate extreme poverty.
[18][non-primary source needed] In 1979, the World Bank launched 'programme loan' in which the World Bank tested their involvement in giving assistance to corporate allies and transnational corporations while without forcing any autonomous policies in which these loan only divert their attention it specific sectors of the Filipino economy such as agriculture and finance.
The project helped satisfy demand for electricity on the island of Luzon by providing four 25 MW generators, a rock filled dam that stores a reservoir, a 90 meter wide spillway that handles flood water, an underground powerhouse with surge chambers, and a pressure tunnel to deal with water flow.
[31] The Environmental and Social Management are to monitor this project to prevent any harm to the ecosystem of the aquatic life and to ensure the positive livelihood and improvement for these farmers.
[32][non-primary sources needed] In the 21st century, World Bank intervention in the Philippines has improved social and living conditions.
The World Bank has been criticized by the Committee for the Abolition of Illegitimate Debt for its role in funding the regime of Ferdinand Marcos.
[37][non-primary sources needed] Economic growth in 2020 and 2021 is forecasted to shrink to 6.1% and 6.2% (from 6.5% in both years), respectively, due to a slowdown in public investment and the current China–United States trade war.
[39] In order to do so, the World Bank estimates that income per capita must triple by way of having its economy grow at an average annual rate of 6.5%.