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New World Bank VP for East Asia and Pacific pays courtesy call to President Aquino

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President Benigno S. Aquino III exchanges pleasantries with World Bank (WB) East Asia and Pacific vice president Axel van Trotsenburg during the Courtesy Call at the Music Room, Malacañan Palace on Friday (July 12, 2013). In photo are International Finance Corporation (IFC) resident representative Jesse Ang, IFC East Asia and the Pacific director Sergio Pimenta, Finance Secretary Cesar Purisima and Budget and Management Secretary Florencio Abad. (MNS Photo).

President Benigno S. Aquino III exchanges pleasantries with World Bank (WB) East Asia and Pacific vice president Axel van Trotsenburg during the Courtesy Call at the Music Room, Malacañan Palace on Friday (July 12, 2013). In photo are International Finance Corporation (IFC) resident representative Jesse Ang, IFC East Asia and the Pacific director Sergio Pimenta, Finance Secretary Cesar Purisima and Budget and Management Secretary Florencio Abad. (MNS Photo).

MANILA (Mabuhay) — President Benigno Aquino III on Friday met with new World Bank Vice President for East Asia and Pacific (EAP) Axel van Trotsenburg during a courtesy call at Malacanang’s Music Room.

This is the first visit of Trotsenburg to the Philippines since he assumed his post on February 1, 2013.

Joining Trotsenburg were other World Bank officials namely Motoo Konishi, country director for the Philippines; Sergio Pimenta, director of EAP International Finance Corporation; and Jesse Ang, resident representative at International Finance Corporation.

President Aquino, meanwhile, was joined by his economic team led by Finance Secretary Cesar Purisima, Budget Secretary Florencio Abad and Socio Economic Planning Secretary Arsenio Balisacan.

Trotsenburg’s meeting with President Aquino aims to tackle how World Bank could best align its emerging assistance strategy with the country’s inclusive growth agenda in the next three years.

The World Bank official is also expected to share with the President the Bank Group’s new twin goals of reducing extreme poverty globally by 2030 and building shared prosperity for the bottom 40 percent of the population in every country. The said twin goals were endorsed in April by the Board of Governors of the World Bank.

Under the theme, Making Growth Work for the Poor, the World Bank has been supporting the Government’s Philippine Development Plan.

As of May 2013, the Philippines portfolio in World Bank amounted to US$2.04 billion with an additional US$910 million in commitments from the Bank’s private sector arm, the International Finance Corporation. (MNS)

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