Philippines: Covid-19 cases surging as govt secures US$8.83bil in foreign loans to fight pandemic

A woman wearing a mask walks along makeshift stalls in downtown Manila, Philippines. The Philippines has so far secured a total of US$8.83 billion in borrowings, loans and grant assistance for the government's Covid-19 (coronavirus) disease response efforts. - AP

MANILA, Sept 6 (Xinhua): The Philippines has so far secured a total of US$8.83 billion in borrowings, loans and grant assistance for the government's Covid-19 (coronavirus) disease response efforts from its development partners and the commercial markets, the country's Department of Finance (DOF) said on Sunday.

Of the total amount, the DOF said US$5.98 billion is budget support financing from the Asian Development Bank, the World Bank, the Asian Infrastructure Investment Bank, the French Development Agency and the Japan International Cooperation Agency.