WB backs PHL digitalization of revenue agencies–diokno

THE World Bank is keen on extending support to further digitalize the Philippine government’s revenue agencies and to modernize civil service, the Department of Finance (DOF) said.

Finance Secretary Benjamin E. Diokno met with World Bank Group Country Director Ndiame Diop on Monday to discuss further alignment and expansion of cooperation between the Philippines and the World Bank based on the Marcos administration’s socioeconomic priorities.

During the meeting, Diokno said he aims to digitalize half of all retail payments and onboard 70 percent of the adult population to the formal

financial system by 2023, a goal he set when he was still governor of the Bangko Sentral ng Pilipinas.

Apart from this, the finance chief said the government intends to pursue the civil modernization project of the Civil Service Commission which will be critical in efforts to modernize the government and rightsize the bureaucracy.

“I am very pleased to hear of the World Bank’s willingness to extend support for further digitalizing our revenue agencies and modernizing civil service in line with the President’s goal of rightsizing the bureaucracy,” Diokno said in a tweet on Monday, following the courtesy call meeting.

Moreover, the DOF said it is also looking to tap available support from the bank for natural disasters, including the recent Magnitude 7.0 earthquake that struck Northwestern Luzon.

The World Bank is already supporting the Bureau of Customs’ Philippine Customs Modernization Program by extending US$88.28 million in financing. The project focuses on transitioning from a largely manual and paper-based organization to a modernized BOC, achieving global standards and full modernization by 2024.

For his part, Diop said the bank has continued to increase its support to the country, proving the continued strong partnership between the World Bank and the Philippines.

The Washington-based lender is the country’s third largest Official Development Assistance (ODA) partner, with loans and grants amounting to around US$6.86 million or 23.38 percent of the country’s total ODA receipts.

Over the last three administrations since 2021, the bank supported the government’s 68 program and project loans amounting to US$14.9 billion.

Currently, the bank is supporting the implementation of 15 ongoing program and project loans in the areas of transport, rural development, disaster risk reduction and management, social protection, customs modernization, and Covid-19 response amounting to US$4.96 billion.

Loans in the pipeline under the current administration include various programs and projects on health and nutrition, education, renewable energy, fisheries, transport, tourism, agriculture, and further reforms in the finance sector.