Gov't eyes $250-M loan from World Bank: Funds to support budget requirements for 2011

(Feature Story...)
According to Finance Undersecretary Gil S. Beltran,  Malacañang is in talks with the World Bank on a $250-million program loan to support budget needs for 2011. This program will serve as the development policy loan for budget support. If this would be approved, then the Philippine government would not have to borrow anymore the amount from commercial lenders. Probably, based on the news I have read, the loan may be released by the first quarter of next year. In relation to the loan that will be released, hopefully, the World Bank was looking at the satisfactory performance of the Philippines' overall economy as well as the government's reform programs in considering whether to make or not to make the fund available. The efforts of the administrative reforms to the bureaus of Internal Revenue and of customs as well as reforms to basic health services will be observed. 
For me, I agree that before the fund will be given to support budget needs for 2011, the bank company should observe first everything, everybody most especially the administrators of our country now if we deserved their support. Of course I am a Filipino too, and somehow I can feel poverty. But still, I am not in a hurry to have their support for budget requirements. I can understand that it is not easy for them to give away $250-million easily. They need to have several observations so that there will be no regrets at the end. They must see that we deserve what will they give to us. It is their right. Malacañang should accept this fact. On their part, they must be prepare enough for the time the bank will observe. The said reforms also must be ready for whatever interview they will encounter. Administrators should show that our economy is worth receiving a million pesos. 
I asked one of our friendly neighbor if what is his perception that there is a possibility that a bank will support the budget needs for the next year, 2011. He answered that it is a good thing that through this program, the poverty will be lessen and he is hoping that if ever this would be made into reality, there will be improvements occurs and that every Filipinos should appreciate this "blessing". Filipinos should be responsible enough in showing that It is really for us.
  
(Philippine Daily Inquirer,Nov.8,2010)