IFC supports QC’s pandemic response (Sabong News)

The International Finance Corp. (IFC) has agreed to help Quezon City in improving the local government’s pandemic response efforts. In a statement, IFC said on Wednesday, March 23, that it will provide advisory services to the Philippines’ biggest city to “future proof” its vaccination strategy and testing facilities. Following an assessment of its existing Covid-19 response efforts, IFC said it will work with Quezon City to increase vaccination rates by improving and expanding vaccination centers, bolstering testing facilities, and strengthening vaccine logistics, among others. “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. For his part, Jean-Marc Arbogast, IFC country manager for the Philippines said “we are delighted to partner with Quezon City as it seeks to improve its pandemic response efforts.” “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,” Arbogast said. 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 said it 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 economy. 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 $5.5 billion – of which over $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.