1 week WB finds flood control project ‘unsatisfactory’ Inquirer
Implementation of the massive Metro Manila flood control project funded by loans from two multilateral lenders has been slow, according to the World Bank (WB). In a report last week, the Washington-based lender said the overall implementation progress of the Metro Manila Flood Management Project jointly led by the Department of Public Works and Highways and the Metropolitan Manila Development Authority was "moderately unsatisfactory" alongside a "substantial" overall risk rating. In 2017, the World Bank and the Beijing-based Asian Infrastructure Investment Bank (AIIB) each chipped in $207.6 million in loans for this project, while the remaining $84.7 million of the ... more