Quezon City, March 23, 2022—The Philippines’ biggest city is planning to strengthen its pandemic response efforts with the support of the International Finance Corporation (IFC), the largest global development institution focused on the private sector and subnational governments in emerging markets.
IFC has agreed to provide Quezon City with advisory services to improve and help ‘future proof’ the city’s vaccination strategy and testing facilities. Following an assessment of its existing COVID-19 response efforts, IFC will work with Quezon City to enhance the efficiency of the existing program and increase vaccination rates by improving and expanding vaccination centers, bolstering testing facilities, and strengthening vaccine logistics, among other focus areas for improvement.
“We expect that this partnership with IFC will help cover all bases and further solidify our programs and projects to combat COVID-19, especially our vaccination and testing initiatives,” Quezon City Mayor Joy Belmonte said. “While Quezon City is already considered as ‘very low risk’ for COVID-19, we should not rest on our laurels and there must be no room for complacency. We must not let our guard down until we achieve total victory over this virus,” she added.
“We are delighted to partner with Quezon City as it seeks to improve its pandemic response efforts,” said Jean-Marc Arbogast, Country Manager for the Philippines at IFC. “Supporting subnational governments and cities, which are often at the forefront of climate change and pandemic response efforts, is crucial. We look forward to a long term and fruitful partnership with Quezon City and to supporting more cities in the Philippines.”
Supporting IFC will be International SOS, a leading global health and risk-management organization. IFC, together with its sister organization the Word Bank, is also supporting Quezon City in assessing carbon mitigation related investment opportunities with a focus on sustainable, safe, low-carbon, and resilient transport mobility and green corridors.
IFC is uniquely positioned to help mayors and municipal leaders meet the demands of their cities, which drive growth and generate more than 80 percent of global GDP. IFC mobilizes commercial financing for priority projects, connects cities with capital markets, and leverages World Bank and private sector expertise to facilitate infrastructure projects.
Since 1962, IFC has invested more than US$5.5 billion – of which over US$3.5 billion was invested from its own account – in around 160 projects in the Philippines. Strategic priorities in the country include reducing the impacts of climate change, deepening financial inclusion, promoting sustainable infrastructure, and strengthening the capacity of the private sector. This will better support the Philippines throughout the pandemic and help drive inclusive growth during the eventual recovery.
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About IFC
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2021, IFC committed a record $31.5 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of the COVID-19 pandemic. For more information, visit www.ifc.org.
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