Finance Secretary Ralph G. Recto has recently sealed a financing agreement with the World Bank – International Bank for Reconstruction and Development (WB-IBRD) to rebuild over 3,000 climate-resilient schools damaged by typhoons nationwide in order to support students’ learning needs.

The Infrastructure for Safer and Resilient Schools Project involves the repair, rehabilitation, retrofitting, and reconstruction of damaged school facilities affected by natural hazards between 2019 and 2023 from all regions outside Metro Manila.

“I thank the World Bank for being a trusted partner in our journey towards climate resilience and economic security for Filipinos. Damaged school buildings directly threaten this goal, as these spaces are where we shape our nation’s most valuable asset—our youth. Poor facilities affect both students and teachers, weakening our human capital, reducing productivity, and driving poverty. Hence, we are prioritizing investments in resilient school buildings to secure a better future for our children and our country,” Secretary Recto said.

With a total project cost of USD 555.56 million, EUR466.07 million (USD 500 million equivalent) will be financed by WB-IBRD while the remaining will be shouldered by the Philippine government.

The agreement was signed by Secretary Recto and WBG Country Director for the Philippines, Malaysia, and Brunei Zafer Mustafaoğlu on November 18, 2024.

The project will be implemented from 2024 to 2029, and will be led by the Department of Education (DepEd) in partnership with the Department of Public Works and Highways (DPWH).