The World Bank is expected to approve a new Country Partnership Framework (CPF) next week, outlining the programs it will back in the Philippines over the next six years.

“We are finishing one and we will be approving the new one next week,” Zafer Mustafaoglu, division director for the Philippines, Malaysia and Brunei at the World Bank, said on the sidelines of the Innotech Seminar. 

He stated that the estimated amount of support will be disclosed following the CPF’s approval.

The framework will outline areas of cooperation between the multilateral institution and the Philippine government from 2025 to 2031, with a focus on human capital development, education, healthcare, economic growth, and job creation in the private sector.

In addition, the CPF will also include support for infrastructure projects, digital transformation, and efforts to enhance the country’s macroeconomic framework and overall business climate, The Philippine Star reports.

“We will focus a lot on economic and social resilience, resilience of the communities, people, key infrastructure,” Mustafaoglu commented.

Previously, Gonzalo Varela, lead economist and program leader for the World Bank Prosperity Unit for the Philippines, Malaysia, and Brunei, stated that the multilateral institution anticipates the Philippines will achieve upper-middle income status during the upcoming CPF period.

He added that, based on the World Bank’s latest economic growth projections, the country is likely to reach this status as early as next year.

World Bank projections released last month indicate that the Philippine economy is expected to grow by 5.3% this year, a downgrade from the previous estimate of 6.1%.

The growth outlook for 2026 was also lowered to 5.4%, down from the earlier forecast of 6%.

Both projections fall short of the Philippine government's target of 6-8% annual economic growth for this year and the next.