World Bank president visits Philippines

Posted at 10/25/2011 10:17 AM | Updated as of 10/25/2011 2:17 PM

MANILA, Philippines - World Bank Group President Robert B. Zoellick arrives in the Philippines on Tuesday, on a visit that aims to strengthen the bank's ties with the country.

During his two-day visit, Zoellick will again meet with President Benigno Aquino. The two met last month when Aquino gave a speech on the Philippine government's commitment to good governance at the Annual Meetings of the World Bank-IMF in Washington D.C.

The World Bank, Zoellick said, shares the Aquino government's view that fighting corruption and boosting transparency are vital to development.

"We know corruption is a drag on the economy, taxes the poor, and strangles opportunity, so I am looking forward to seeing first hand and learning from some of the reforms President Aquino has put in place to improve governance," he said.

"The focus on good governance can help in the effort to boost economic growth, as better governance improves the investment climate as well as helps ensure efficient public spending.

Zoellick will also meet members of the government economic team lead by Finance Secretary Cesar Purisima, as well as leaders of civil society groups and the private sector.

The World Bank president will visit a poor community, where people have benefitted from the conditional cash transfer program "Pantawid Pamilya."

This program, which was launched in 2008 with support from the World Bank, provides families with cash if they send their children to school and comply with health checks.  It has now benefitted some 2.2 million households, including 6 million children up to the age of 14.

"At a time when many countries have increasing numbers of people living precariously near the poverty line, targeted safety net programs are vital to help the most vulnerable people to continue to have opportunity and hope," Zoellick said.

The World Bank has been supporting the Philippines Development Plan. As of September 2011, the Bank has a total commitment of over $2 billion with an additional $185 million from its private sector arm, the International Finance Corporation.


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