RP plans to borrow from World Bank for poor families’ health, school needs

MANILA, Philippines – The Philippines intends to borrow as much as P25 billion from the World Bank to fund a program that will subsidize health and education expenses of poor families.

Under the government’s proposed five-year conditional cash transfer (CCT) program, 321,000 poor families will receive at least P800 monthly.

Of this amount, P500 will be for their health and nutrition expenses while the remaining P300 will be for educational expenses over a ten-month school year, the Philippines’ Department of Social Welfare and Development said.

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