FUNDAMENTALS OF ECONOMIC DEVELOPMENT

(Development Economics in the Domestic Perspective)

https://asiafoundation.org/wp-content/uploads/2017/07/Economic-Reform-Development-Philippines_2017.pdf

What Are Fundamentals?

Fundamentals include the basic qualitative and quantitative information that contributes to the financial or
economic well-being of a company, security, or currency, and their subsequent financial valuation. Where
qualitative information includes elements that cannot be directly measured, such as management
experience, quantitative analysis (QA) uses mathematics in business format and statistics in social-sciences
format to understand the asset and predict its movements.

Understanding Fundamentals
In business and economics, fundamentals represent the primary characteristics and financial data necessary to
determine the stability and health of an asset. This data can include macroeconomic, or large-scale factors,
and microeconomic, or small-scale factors to set a value on securities or businesses.

Analysts and investors examine these fundamentals to develop an estimate as to whether the underlying asset
is considered a worthwhile investment, and if there is fair valuation in the market. For businesses, information
such as profitability, revenue, assets, liabilities, and growth potential are considered fundamentals. Through
the use of fundamental analysis, you may calculate a company's financial ratios to determine the feasibility of
the investment.

While fundamentals are most often considered factors that relate to particular businesses or securities,
national economies, and their currencies also have a set of fundamentals that can be analyzed. For example,
interest rates, gross domestic product (GDP) growth, trade balance surplus/deficits, and inflation levels are
some factors that are considered to be fundamentals of a nation's value.

Macroeconomic and Microeconomic Fundamentals

Macroeconomic fundamentals are topics that affect an economy at-large, including statistics
regarding unemployment, supply and demand, growth, and inflation, as well as considerations for monetary
or fiscal policy and international trade. These categories can be applied to the analysis of a large-scale
economy as a whole or can be related to individual business activity to make changes based on
macroeconomic influences. Large scale, macroeconomic fundamentals are also part of the top-down
analysis of individual companies.

Microeconomic fundamentals focus on the activities within smaller segments of the economy, such as a
particular market or sector. This small-scale focus can include issues of supply and demand within the
specified segment, labor, and both consumer and firm theories. Consumer theory investigates how people
spend within their particular budget restraints. The theory of the firm states that a business exists and makes
decisions to earn profits.

Fundamentals in Business

By looking at the economics of a business, including the overall management and the financial statements,
investors are looking at a company's fundamentals. Not only do these data points show the health of the
business, but they also indicate the probability of further growth. A company with little debt and
sufficient cash is considered to have strong fundamentals.
Strong fundamentals suggest that a business has a viable framework or financial structure. Conversely, those
with weak fundamentals may have issues in the areas of debt obligation management, cost control, or overall
organizational management. A business with strong fundamentals may be more likely to survive
adverse events, like economic recessions or depressions, than one with weaker fundamentals. Also, strength
may indicate less risk should an investor consider purchasing securities associated with the businesses
mentioned.

Fundamental Analysis

Investors and financial analysts are interested in evaluating the fundamentals of a company to compare its
economic position relative to its industry peers, to the broader market, or to itself over time. Fundamental
analysis involves digging deep into a company's financial statements to extract its profit and growth potential,
relative riskiness, and to ultimately decide if its shares are over, under, or fairly valued in the market.

Often fundamental analysis involves computing and analyzing ratios to make apples-to-apples comparisons.
Some common fundamental analysis ratios are listed below.

● The debt-to-equity ratio (DE) measures how a company is financing its operations. 

● The quick ratio measures the company’s ability to meet its short-term obligations.
● The degree of financial leverage (DFL) measures the stability or volatility of the earnings per share
(EPS).
● The price-to-earnings (P/E) ratio compares investment to earnings dollars.
● The DuPont analysis looks at return on equity (ROE) by looking at asset use efficiency, operating
efficiency, and financial leverage.

Fundamental analysis should be carried out with a holistic approach, utilizing several ratios and including a
bottom-up as well as a top-down analysis to come to specific conclusions and actions.

Real World Example

In the fourth quarter of 2018, according to Market Watch, large-cap tech companies Microsoft and Apple had
similar market caps for the first time since 2010. Although the two companies had similar market caps of
about $850 billion, they had very different fundamentals. For example, Microsoft was trading at
45X earnings while Apple was trading at 15X earnings.1

Also, while Microsoft’s earnings were predicated on software as a service (SaaS) and software sales, Apple’s
were still primarily dependent on hardware sales. Apple’s revenue base is about 2½ times Microsoft’s; the
global market for its devices is far more saturated than the global market for Microsoft’s software. 2

Though both companies had a similar market cap, they had very different fundamentals, which would need to
be considered when choosing them as potential investments, particularly in determining future growth
prospects.

The Elements of Economic Development

Curtis Hendricks
Coordinator, Missouri Office of Rural Development
Charles M. St. Clair and William E. Robertson
Department of Community Development
The creation of capacity
More communities have come to realize that change is inevitable, and they are establishing economic
development programs to help them manage that change.

At a time when the industrial revolution has given way to the information age, a good economic development
program will help a community remain "tuned in" to the world. It can help business and industry to be more
productive and also contribute to the community's overall viability. Accomplishing this takes a program that is
broad-based and long-term.

Traditionally, economic development programs have concentrated on one activity, such as industrial
recruitment, working hard to put the necessary pieces in place and then stepping back to count the jobs
created.

Although many communities have experienced short-term success, many find that very little has actually
improved in the long run. The quality of life in the community seems incomplete; the level of discontent
grows, politically and socially, and everyone in town seems to be looking for a new answer.

Alternately, an economic development program that addresses a range of conditions and possibilities will have
a lasting impact on the community.

Because we look at work differently now compared to 25 years ago, we need to redefine the focus of our
economic development programs. No longer is it appropriate to define economic development only in terms
of jobs. With concepts such as flex-time, job-sharing and transitional placement becoming part of the work
world, obviously a new focus is needed.

Defining economic development as a process of increasing the capacity of a community allows us to expand
the possibilities of our programs. Broad-based, comprehensive programs are more likely to meet the
community's long-term, unique needs than are those which rely on only one strategy.

In the final analysis, economic development is not just the creation of jobs, but is the capacity created in a
community to identify and use resources for long-term growth.

Resource analysis
Economic development is a part of community development. A good economic development program begins
with an analysis of local resources, both human and material.

No two communities start development programs from the same place, simply because every community's
resources are different. One might have higher job skill levels. Another might be a regional trade center. A
third might be located near an interstate. All of them require different strategies.

Economic development is not a precise science in the traditional sense — its focus must involve the whole
community.

Five basic objectives

Good economic development programs are built around five basic objectives. Specific strategies vary from
town to town, but a good program will address all five.

Make existing employers more competitive

Many professionals feel this is the most cost-effective approach to economic development
because it emphasizes holding onto what a community already has. Improved profitability could also
 mean business expansion. Some strategies include establishing job training programs, providing
business counseling and helping firms improve their marketing skills. These strategies help local
business "tune in" to the changing world.

Encourage new employers

Strategies associated with this objective strive to create new enterprises that serve local
markets or those outside the community. The essence of entrepreneurship is the development of new
products for manufacturing or the creation of innovative services not presently available. New
businesses that add value to local resources or products may be created.

Capture more local dollars

Many of the dollars that come into a community leave just as quickly, in lost retail sales, taxes
paid to higher governments, and purchases of services and supplies elsewhere.

For example, up to 20 percent of a community's income leaves town to pay energy costs. A
housing weatherization program could succeed in putting a large chunk of that back into community
pockets. Programs that encourage institutions to purchase goods and services locally are another
effective strategy for capturing the local dollar.

Attract new employers

Recruiting businesses and industries that are looking to move or expand into new locations is
an important part of an overall economic development program. Effectively targeting industries can
help a community diversify, raise income levels and fill voids. Enticing a manufacturer to locate in a
community may involve the use of tax credits or infrastructure improvements.

Access outside sources of capital

Retirees bring with them resources that may spur activity throughout the community. Transfer
payments are an important source of income throughout the state.

In addition, the array of programs and services available from federal and state governments
and other public sector agencies increase a small community's opportunity to grow.

Quality of life

Many communities find that increasing capacity is not just a quantitative goal, but a qualitative ideal. It may be
more important to increase the skills of current employees than to increase the number of low-skill jobs. A
good economic development program will use all the resources within a community: economic, cultural and
social.

Indeed, a community's sense of "self" and "vision" are essential resources, and a broad-based economic
development program will evolve from its unique values and traditions. Grassroots organizations and
volunteers are extremely important to the economic developer trying to foster change.

Every community views its "capacity" differently, and each should judge itself by the quality of what it has and
then judge its future the same way.

Economic development indicators

To assess the economic development of a country, geographers use economic indicators including:

● Gross Domestic Product (GDP) is the total value of goods and services produced by a country in a year.
● Gross National Product (GNP) measures the total economic output of a country, including earnings from
foreign investments.
● GNP per capita is a country's GNP divided by its population. (Per capita means per person.)
● Economic growth measures the annual increase in GDP, GNP, GDP per capita, or GNP per capita.
● Inequality of wealth is the gap in income between a country's richest and poorest people. It can be
measured in many ways, (eg the proportion of a country's wealth owned by the richest 10 per cent of the
population, compared with the proportion owned by the remaining 90 per cent).
● Inflation measures how much the prices of goods, services and wages increase each year. High inflation
(above a few percent) can be a bad thing, and suggests a government lacks control over the economy.
● Unemployment is the number of people who cannot find work.
● Economic structure shows the division of a country's economy
between primary, secondary and tertiary industries.
● Demographics study population growth and structure. It compares birth rates to death rates, life
expectancy and urban and rural ratios.

Measuring development

Studying development is about measuring how developed one country is compared to other countries, or to

the same country in the past. Development measures how economically, socially, culturally or technologically
advanced a country is. The two most important ways of measuring development are economic
development and human development.

● Economic development is a measure of a country's wealth and how it is generated (for example agriculture
is considered less economically advanced then banking).
● Human development measures the access the population has to wealth, jobs, education, nutrition, health,
leisure and safety - as well as political and cultural freedom. Material elements, such as wealth and
nutrition, are described as the standard of living. Health and leisure are often referred to as quality of life.

Development indicators

There is no single way to calculate the level of development because of the variety of economies, cultures and
peoples. Geographers use a series of development indicators to compare the development of one region
against another. For example:

● Health. Do the population have access to medical care? What level of healthcare is available - basic or
advanced? Is it free?
● Industry. What type of industry dominates? LEDCs focus on primary industries, such as farming, fishing and
mining. MEDCs focus on secondary industries, such as manufacturing. The most advanced countries tend to
focus more on tertiary or service industries, such as banking and information technology.
● Education. Do the population have access to education? Is it free? What level of education is available (ie
primary, secondary or further/higher education)?
The North South Divide

MEDCs are countries which have a high standard of living and a large GDP. LEDCs are countries with a low
standard of living and a much lower GDP.

The map shows the locations of LEDCs and MEDCs. Most of the southern hemisphere is less developed, while
countries in the northern hemisphere are more developed.

Human development indicators

Development often takes place in an uneven way. A country may have a very high GDP - derived, for example,
from the exploitation of rich oil reserves - while segments of the population live in poverty and lack access to
basic education, health and decent housing.

Hence the importance of human development indicators, measuring the non-economic aspects of a country's
development.

Human development indicators include: (research all items under the Philippine economic perspective 2018-
2019)

● Life expectancy - the average age to which a person lives.

● Infant mortality rate - counts the number of babies, per 1000 live births, who die under the age of one.
● Poverty - indices count the percentage of people living below the poverty level, or on very small incomes
● Access to basic services - the availability of services necessary for a healthy life, such as clean water and
sanitation.
● Access to healthcare - takes into account statistics such as how many doctors there are for every patient.
● Risk of disease - calculates the percentage of people with diseases such as AIDS, malaria and tuberculosis.
● Access to education - measures how many people attend primary school, secondary school and higher
education.
● Literacy rate - is the percentage of adults who can read and write.
● Access to technology - includes statistics such as the percentage of people with access to phones, mobile
phones, television and the internet.
● Male/female equality - compares statistics such as the literacy rates and employment between the sexes.
● Government spending priorities - compares health and education expenditure with military expenditure
and paying off debts.

DEVELOPMENT INDICES
A development index measures a country's performance according to specific development indicators. Some
countries may appear to be developed according to some indices, but not according to others.

Development indicators (research for the Philippine economy)

● Vietnam and Pakistan have a similar per capita GDP. However, life expectancy and literacy are considerably
higher in Vietnam than they are in Pakistan.

● Saudi Arabia has a per capita GDP comparable to that of Croatia. However, in Saudi Arabia there is greater
inequality between men and women when considering access to education and political power. So,
although they are equal on an economic development index - Saudi Arabia is less developed on a human
development index.
Problems with indices

Development indices can be misleading and need to be used with care. For example:

● Many indices are averages for the whole population of a country. This means that indices do not always
reveal substantial inequalities between different segments of society. For example, a portion of the
population of a highly developed country could be living below the poverty line.
● In some countries, the data used in indices could be out of date or hard to collect. Some countries do not
wish to have certain index data collected - for example, many countries do not publish statistics about the
number of immigrants and migrants.
To balance inaccuracies, indices tend to be an amalgamation of many different indicators. The United
Nations Human Development Index (HDI) is a weighted mix of indices that show life expectancy, knowledge
(adult literacy and education) and standard of living (GDP per capita). As Vietnam has a higher literacy rate
and life expectancy than Pakistan, it has much higher HDI value even though it has a similar per capita GDP.

HDI is measured between 0 and 1. The USA has an HDI of 0.994 whereas Kenya has an HDI of 0.474.
What is Economic Development?

Economic Development is the creation of wealth from which community benefits are realized. It is more than
a jobs program, it’s an investment in growing your economy and enhancing the prosperity and quality of life
for all residents.
Economic development means different things to different people. On a broad scale, anything a community
does to foster and create a healthy economy can fall under the auspice of economic development. Today’s
economic development professionals are trying harder than ever to define their field in terms that are more
concrete and salient to policymakers, the public, and other professionals. There are probably as many
definitions for economic development as there are people who practice it.

From a public perspective, local economic development involves the allocation of limited resources – land,
labor, capitol and entrepreneurship in a way that has a positive effect on the level of business activity,
employment, income distribution patterns, and fiscal solvency.

It is a process of deliberate intervention in the normal economic growth by making it easier or more attractive.
Today, communities in California are giving attention to what they can do to promote fiscal stability and
greater economic development.

Economic development is a concerted effort on the part of the responsible governing body in a city or county
to influence the direction of private sector investment toward opportunities that can lead to sustained
economic growth. Sustained economic growth can provide sufficient incomes for the local labor force,
profitable business opportunities for employers and tax revenues for maintaining an infrastructure to support
this continued growth. There is no alternative to private sector investment as the engine for economic growth,
but there are many initiatives that you can support to encourage investments where the community feels they
are needed the most.

It is important to know that economic development is not community development. Community development
is a process for making a community a better place to live and work. Economic development is purely and
simply the creation of wealth in which community benefits are created. There are only three approaches used
to enhance local economic development. They are:

● Business Retention and Expansion – enhancing existing businesses

● Business Expansion – attracting new business
● Business Creation – encouraging the growth of new businesses
 ● The World Bank in the Philippines
● The Philippines has one of the most vibrant economies in the East Asia Pacific region. The COVID-19
pandemic, however, dims the country’s growth prospects in 2020. Timely measures are important to
cushion against the health and economic shocks and protect the most vulnerable people.

CONTEXT:

The Philippines is one of the most dynamic economies in the East Asia Pacific region. With increasing
urbanization, a growing middle class, and a large and young population, the Philippines’ economic dynamism
is rooted in strong consumer demand supported by a vibrant labor market and robust remittances. Business
activities are buoyant with notable performance in the services sector including the business process
outsourcing, real estate, and finance and insurance industries.

Sound economic fundamentals and a globally recognized competitive workforce reinforce the growth
momentum. Having sustained average annual growth of 6.4% between 2010-2019 from an average of 4.6%
between 2001-2009, the country is on its way from a lower middle-income country with a gross national
income per capita of US$3,830 in 2018 to an upper middle-income country (per capita income range of
US$3,956–$12,235) in the near term.

Real economic growth slowed in 2019, but was still strong with 6.0% year-on-year. Growth is now projected to
significantly decelerate this year due to the impact of the COVID-19 (coronavirus) outbreak, including through
the slowdown in trade, investment, tourism, remittances, and social distancing—including the associated
community quarantine.

Nevertheless, economic growth is expected to rebound gradually in 2021-2022 as global conditions improve,
and with more robust domestic activity bolstered by the public investment momentum and a boost from 2022
election-related spending.

In recent years, the Philippine economy has made progress in delivering inclusive growth, evidenced by a
decline in poverty rates and its Gini coefficient. Poverty declined from 23.3% in 2015 to 16.6% in 2018 while
the Gini coefficient declined from 44.9 to 42.7 over the same period. The ongoing increasing trend in real
wages, which is expected to have a positive impact on household incomes—particularly those from the lower
income groups—will be hampered by the impact of the COVID-19, with negative consequences also for
poverty reduction in the Philippines. 

Last Updated: Apr 21, 2020

STRATEGY:

The World Bank Group’s (WBG) partnership with the Philippines spans almost 75 years, providing longstanding
support for infrastructure as well as engagement in key sectors, including governance, social protection, water
resources, and disaster risk management. The WBG is also an active partner in helping spur private sector
growth, expanding engagement with civil society, and promoting peace and development in Mindanao.

On December 17, 2019, the World Bank Group’s Board of Executive Directors has endorsed a new Country
Partnership Framework (CPF) for the Philippines for 2019-2023. The CPF prioritizes investments in human
capital (health, education, and nutrition), competitiveness and job creation, peacebuilding, climate and
disaster resilience, governance, and digital transformation.
It will support a cohesive approach to Mindanao’s development and intensify efforts to engage the
Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), including reconstruction support for
Marawi. For instance, the Bank will support projects that link remote communities to main markets, ports, and
key growth corridors; promote human development; and address drivers of conflict.

As of end of March 2020, the Bank's active portfolio in the Philippines consisted of 10 operations financed by
the International Bank for Reconstruction and Development (IBRD) loans, Global Environment Facility (GEF)
grants, and large recipient-executed grants with a total net commitment of US$2 billion. The IBRD portfolio’s
sectoral coverage is as follows: social protection and jobs (26%); agriculture and food (23%); water (16%);
social development (15%); macroeconomics, trade, and investment (14%); transport (5%); and energy (1%).

The Philippines’ trust fund portfolio consists of 59 active grants with total a commitment of US$183.3 million,
which includes the large recipient-executed grants and GEF grants included in the active portfolio.

The International Finance Corporation (IFC) has an active advisory service program focusing on enhancing the
investment climate, public-private partnership projects, climate finance, financial inclusion, disaster insurance,
and sustainable agribusiness.

Last Updated: Apr 21, 2020

RESULTS:

Since the Philippines government received its first World Bank loan in 1957, the Bank’s development projects
in the country have produced significant results for its people.  In the past three decades, the Bank’s
assistance has expanded to a wide range of projects and analytical work, policy advice, and capacity
development in support of the country’s development agenda.

Highlights of projects and results:

The Philippine Rural Development Project (PRDP) has been helping raise rural incomes, enhance farm and
fishery productivity, and improve market access throughout the country since it started in 2015. It has been
supporting provincial planning, rural infrastructure, and agriculture enterprise development. It has been using
tools such as geotagging, value chain analysis, and expanded vulnerability and suitability assessments to help
guide public investments toward a modern, value-chain oriented, and climate-resilient agriculture and
fisheries sector.

The project has helped support provincial planning for priority agricultural commodities in all 81 provinces of
the country. Since 2015, the project has benefitted around 870,000 beneficiaries—45% are women—through
the provision of farm-to-market roads, irrigation, drinking water supply, agricultural enterprise projects, and
coastal and marine resource conservation activities. Specifically, the project has constructed more than 2,000
kilometers of rural roads, reducing travel time by 53% and transport costs by 13.5%. Results of the household
survey indicate that farmers benefitting from rural roads, water supply, and irrigation gained a 15.2% increase
in annual household real income. Beneficiaries of agricultural enterprise projects – around 270,000 farmers—
increase in incomes by around 30%.

The Participatory Irrigation Development Project (PIDP) has been supporting the improvement of 58

irrigation systems throughout the country. Since it started in late 2009, the project has rehabilitated and
modernized irrigation infrastructure that has been serving close to 126,180 hectares, benefiting close to
196,440 farmers and their families. It has also provided organizational development and capacity building
activities to more than 924 Irrigators’ Associations. Between 2009 and 2018 when the project closed, the
average paddy rice yield of farmers increased 17% from 4.27 metric tons per hectare to five metric tons in the
wet season and from 4.48 metric tons per hectare to 2.26 metric tons per hectare in the dry season.

The Bank has supported the government’s education agenda through the Learning, Equity and Accountability
Program Support (LEAPS) project in the areas of early grade reading and math with a focus on disadvantaged
children. The project has benefitted approximately 4.4 million students, teachers, school heads, and other
Department of Education staff in terms of improved teaching and learning in reading and mathematics.
Specifically, the project has trained approximately 34,000 Grade 1 – 3 teachers and 10,000 school heads in
early literacy and numeracy teaching strategies. Good improvements have been recorded in reading and math
scores of Grade 2 and 3 students. LEAPS has also successfully helped the Department of Education develop
and roll out a department-wide financial management and operations manual—and has trained 14,121 target
schools in the new performance incentive scheme.

The Social Welfare and Development Reform Project II (SWDRP II) has been supporting the government’s
conditional cash transfer program (CCT), or Pantawid Pamilyang Pilipino Program, which helps poor
households invest in the education and health of children up to 18 years old. The program has made
an significant impact on reducing total poverty and food poverty among beneficiaries, and has grown to
become one of the largest in the world, supporting more than 4.87 million households as of July 2019. The
program is being implemented in 145 cities across 81 provinces throughout the country.

The program is estimated to have reduced total poverty in 2017 in the Philippines by 1.3 percentage points:
from an estimated pre-Pantawid rate of 19.8% to a post-Pantawid rate of 18.5%. In addition, the program’s
poverty focus helped reduce national income inequality by 0.6 percentage point from 46.8% pre-Pantawid to
46.2% post-Pantawid.

The Pantawid Program has increased gross enrollment rates for children ages 12–17 years by 4.9 percentage
points from a baseline of 80.4%, and by 10 percentage points (from a baseline of 60.8%) for ages 16-17.

The program is also helping to reduce the gender gap in enrollment between boys and girls ages 6–14 years by
30%. Pantawid is encouraging poor women to use maternal and child health services, such as antenatal care:
nearly 8 in 10 pregnant women of Pantawid households have the recommended number of prenatal
checkups. It also promotes safer birth deliveries performed by doctors and improved children’s access to
health care, all of which have positive effects on the long-term welfare of beneficiary households.

The project beneficiaries of the CCT are selected through Listahanan, the national household targeting system
for poverty reduction in the Philippines, which reaches three out of four households across the country. The
objective selection of 5.2 million poor households in 2016 has helped ensure that government programs are
better targeted for those who need them most. Given the project’s success, the Bank is providing additional
financing to SWDRP II for the period 2019-2021. The CCT is being implemented in 145 cities and 1,482
municipalities in 80 provinces in the country.

The poorest communities have benefited from projects that address their priority needs through a
community-driven development approach. As of June 2019, the National Community-Driven Development
Project (NCDDP) has covered a total of 19,293 barangays (villages) in 830 municipalities in 14 regions,
benefitting 5.2 million households. It has funded a total of 27,333 community sub-projects, of which 97% have
been completed. Around 37% of the sub-projects done by communities were access services (e.g. village
roads, footbridges, footpath), followed by social services (e.g. day-care centers, classrooms, health stations) at
35%.
Through the National Roads Improvement and Management Project II, the World Bank has supported the
country’s efforts to establish a road management system to ensure the upgrading and preservation of its
national road network in an environmentally, socially, and financially sustainable manner. Implemented by the
Department of Public Works and Highways (DPWH), the project has improved 295 kilometers and
rehabilitated 1,200 kilometers of roads. It has awarded contracts to ensure long-term maintenance of these
roads. More importantly, it has helped improve DPWH’s planning procedures and management effectiveness
in maintaining the country’s road network.

To manage disaster risks, the Bank has provided a contingent line of credit for moderate to severe disasters,
as well as an innovative catastrophe insurance coverage for the most severe and infrequent events. This is
combined with technical assistance to help strengthen investment planning and regulations to reduce disaster
risk, particularly through support for the revision of the National Building Code. The innovative financing helps
ensure that resources are available for the government’s development programs in the aftermath of a
disaster. With its global expertise in post-disaster reconstruction, the Bank has been working with
development partners and the government in helping develop effective disaster recovery
programs and building back better infrastructure and communities.

The Bank’s assistance has also extended to conflict-affected areas in the country, helping support better
governance, access to services, jobs creation, and enhanced citizen security and justice. Supported by a range
of development partners, the Mindanao Trust Fund-Reconstruction and Development Project aims to
improve prospects for peace and development in conflict-affected areas in Mindanao by improving social and
economic recovery. A total of 573 sub-projects improved infrastructure, livelihoods, and functional literacy in
315 conflict-affected communities across 75 municipalities. Nearly 650,000 people now benefit from clean
water, better roads, more post-harvest facilities, and better access to farming and fishing equipment.

Last Updated: Apr 21, 2020

KINDLY SUPPLEMENT YOUR KNOWLEDGE THROUGH THESE VIDEO URLs:

1. https://www.youtube.com/watch?v=GEw5LiMGc1Q
2. https://www.youtube.com/watch?v=__LydKSvvBg
3. https://www.youtube.com/watch?v=b98dy-nFs5k
4. https://www.youtube.com/watch?v=ovSJQ4GZeHE
5. https://www.youtube.com/watch?v=4D_36i4zVFs
6. https://www.youtube.com/watch?v=F_1S7OSBsYw
7. https://www.youtube.com/watch?v=V5QTPvIj1bI
8. https://www.youtube.com/watch?v=Mc8GWrAw3ME

The above-mentioned URLs compiled under the fair-use act of the Philippines and considered to be viewed for
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Compiled by: MAYNARD O. LUCAS, MBA

Faculty, School of Business and Accountancy