The Philippines is rushing to complete a delayed World Bank-funded flood control project covering Metro Manila before the loan financing ends next year.
In a Nov. 5 implementation status and results report for the Metro Manila Flood Management Project, the World Bank said that disbursements of the loan it approved back in 2017 had already reached 62.36 percent to date, or $115.33 million out of the reduced financing amounting to $184.94 million.
As such, $69.61 million in World Bank financing still needs to be spent before the extended closing date of Nov.
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