World Bank cites risks to $500-M schools rehab project

THE World Bank said the Philippine government may not have enough time to complete the Infrastructure for Safer and Resilient Schools (ISRS) project by December 2029 even as it remained achievable.

“The PDO (project development objective) is achievable, but implementation delays increase the risk of not having enough time for the full conclusion of all the works by the closing date, especially on component 2,” according to a loan document uploaded on the World Bank website on Jan. 20.

The ISRS project was approved in June 2024, while the $500-million loan agreement, signed in November of the same year, took effect in February 2025.

The World Bank gave the project as having a “moderate” overall risk rating, but overall implementation and progress towards its objectives were moderately satisfactory. — Aubrey Rose A. Inosante