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World Bank commits continued support for Philippines digital transformation (PhilStar Global)

The World Bank said it is committed to supporting the digital transformation of the Philippines, but underscored the need for reforms particularly in the investment environment.

“The World Bank is committed to supporting the Philippines in its digital economy agenda. Reforms that will enable digital transformation across the government and the private sector are at the core of some of the current and future projects that are supported by the World Bank,” said Ndiame Diop, World Bank country director for the Philippines, during the launch of the latest digital economy report for the Philippines yesterday.

The Philippines Digital Economy Report 2020, crafted by the bank with the National Economic and Development Authority (NEDA), provides an overview of the Philippine digital economy, as well as challenges and opportunities for expansion and increased adoption amid the pandemic.

Among the key findings of the report is that while the shift to digital payments, telemedicine and online education has risen to cope with the health crisis, the use of digital technologies in the country remains below potential because of the wide digital divide between those who have access to reliable internet connection.

“Digital transformation has made life comfortable for some, but this also widened the digital divide. Sixty percent of households do not have access to very good internet. There is a wide gap in digital literacy across ages,” said Diop.

The World Bank said it is committed to supporting the digital transformation of the Philippines, but underscored the need for reforms particularly in the investment environment.

“The World Bank is committed to supporting the Philippines in its digital economy agenda. Reforms that will enable digital transformation across the government and the private sector are at the core of some of the current and future projects that are supported by the World Bank,” said Ndiame Diop, World Bank country director for the Philippines, during the launch of the latest digital economy report for the Philippines yesterday.

The Philippines Digital Economy Report 2020, crafted by the bank with the National Economic and Development Authority (NEDA), provides an overview of the Philippine digital economy, as well as challenges and opportunities for expansion and increased adoption amid the pandemic.

Among the key findings of the report is that while the shift to digital payments, telemedicine and online education has risen to cope with the health crisis, the use of digital technologies in the country remains below potential because of the wide digital divide between those who have access to reliable internet connection.

“Digital transformation has made life comfortable for some, but this also widened the digital divide. Sixty percent of households do not have access to very good internet. There is a wide gap in digital literacy across ages,” said Diop.

To read the rest of the article, please use this link: https://www.philstar.com/business/2020/10/07/2047646/world-bank-commits-continued-support-philippines-digital-transformation


By PhilStar Global | October 9th, 2020

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