By Roderick T. dela Cruz

The Philippines is asking the World Bank to finance more than $1 billion worth of programs and projects this year, despite a controversy over a national road project.

Documents from the bank show that in 2008, the bank approved three major loans with a combined amount of $445 million, including a $232-million loan for the second phase of the controversial National Roads Improvement and Management Program.

Other loans signed with the World Bank last year were the $200-million loan for the Food Crisis Response Program Development Policy Operation and a $12.94-million loan by the National Power Corp. for the Bicol Power Restoration Project.

This made the World Bank the second-largest source of foreign assistance in the Philippines, next only to the Japan International Cooperation Agency.

As of December 2008, the National Economic and Development Authority reported that the cumulative official development assistance loans in the Philippines amounted to $9.7 billion.

Of the total active loans, $4.173 billion or 43 percent were obtained from the Japanese funding agency; $1.514 billion or 16 percent from the World Bank; $1.502 billion or 16 percent from the Asian Development Bank; $1.1 billion or 11 percent from China; and $1.384 billion or 14 percent from other foreign agencies.

The Philippine government this year is seeking a $400- million loan from the World Bank to finance a conditional cash transfer program under the National Sector Support for Social Welfare and Development Reform.