Philippines First Energy Transition and Climate Resilience DPL

active

Prospective

This program document proposes the first operation for US800 million dollars of a programmatic series of two development policy loans (DPLs) to support energy transition and climate resilience reforms in the Philippines. The Program Development Objective (PDO) of the operation is to support Government of the Philippines (GOP) reforms to (1) scale up the adoption of clean energy technologies, (2) increase the security, flexibility, and competition of the electricity markets; and (3) improve water management across water uses; represented in three pillars. Pillar 1 aims to strengthen the policies and regulations for scaling up renewable energy (RE), energy efficiency (EE) and adoption of electric vehicles (EVs). Pillar 2 will help establish electricity market mechanisms for accelerating grid integration of variable renewable energy (VRE) and improving competition in wholesale and retail electricity markets, keeping a downward pressure on electricity costs. Pillar 3 will support creating an enabling environment for water financing and management that promotes the incentives and governance framework in the national and local governments for climate-resilient water supply and sanitation (WSS) services. The three pillars integrate to facilitate a robust policy foundation for building a low-carbon and climate-resilient economy, continuing the development trajectory envisioned in the Philippine Development Plan 2023-2028 (PDP 2023-28).

World Bank Group

Project

Water Supply and Storage, Power Generation (CCGT), Automotive, Electric Vehicles (EVs), Wind, Commercial, Waste Processing and Treatment, Government