MANILA — The World Bank is set to approve a $250-million loan in the first quarter of 2027 to fund the Philippines’ Technology-driven, Human-centered Climate and Disaster Resilience through Innovation for Vulnerable Empowerment (THRIVE) project, the multilateral lender said.

According to a Feb. 13 project information document, the World Bank is targeting Feb. 25, 2027 for the approval of the investment project financing (IPF). The Philippine government will receive the loan through the Department of Finance (DOF) as the borrower, with the Department of Science and Technology (DOST) serving as the implementing agency.

The THRIVE project aims to strengthen the country’s disaster preparedness by enhancing natural hazard monitoring, early warning systems, and risk information services.

“The Philippines is consistently ranked the most vulnerable country in the world to disasters by the World Risk Index,” the World Bank said, noting that typhoons present the highest average annual loss and that climate change is intensifying their impact. The bank warned that climate-related disasters could cost the country up to 7.6 percent of GDP by 2030 and 13.6 percent by 2040 without proper adaptation measures.

The project will also address threats from earthquakes, particularly a potential magnitude-7.2 quake along the West Valley Fault in Metro Manila, which could cause up to 48,000 fatalities and $48 billion in damages.

The initiative aligns with the World Bank Group’s country partnership framework for 2025-2031, particularly its focus on strengthening socioeconomic resilience, and supports the Philippine Development Plan 2023-2028, which emphasizes enhancing disaster risk management and using science and technology to build resilience.

Through THRIVE, the DOST will deploy advanced technologies and innovative solutions to improve multi-hazard early warning systems, expand coverage to more communities via operational monitoring stations, and create a centralized risk information and alert platform. The project aims to improve speed and accuracy of warnings, reinforce local resilience in high-risk areas, and address both climate and geophysical hazards.

The World Bank noted that while corporate scorecard indicators measuring climate resilience can serve as benchmarks, THRIVE takes a comprehensive approach, benefiting communities by addressing multiple hazards and reinforcing overall disaster preparedness.