WB offers funding for RP projects

According to Socioeconomic Planning Secretary (NEDA) Ralph Recto, the World Bank offers to fund our country’s social programs and infrastructure projects. Rector should not get too excited since the World Bank is notorious for their deals. The Filipino people should be wary about the World Bank. The World Bank is one of the reasons why developing (Poor) countries including the Philippines remain poor. It was created to advance the interests of the United States and richer countries in the west. Contrary to their objective in reducing poverty, it actually helps increased poverty in the developing countries. The World Bank wanted to control the governments by forcing them to change their policies and laws for their own interest.

To counter the damaging effects and influence of the World Bank (and the west), South American countries headed by Venezuela established Bank of the South. South American countries should be applauded for their courage in standing up against the US / World Bank.

The Philippines and other developed countries should establish a new bank identical to the Bank of the South where the interest of the poor state will be taken care of. Our country should stand up against the World Bank and its imperialistic behavior. Let’s follow the lead of Venezuela and other Latin American States.