00:00The World Bank praises the Pantawid Pamilyang Pilipino Program, or 4Ps, for its effectiveness in reducing poverty.
00:07This during the launch of the Lender's Philippines Public Finance Review.
00:11The WB's latest assessment suggests that the money spent in this targeted program is doing more to reduce poverty than
00:18other forms of government assistance.
00:20And the message is clear. 4Ps is far more effective a program.
00:25The WB estimates the 4Ps delivers around 200 times more poverty reduction per peso spent than VAT exemptions, and about
00:33twice as much as the social pension for indigent senior citizens.
00:36The program itself reduces the country's poverty rate by around 2.2 percentage points, which Al-Rikabi describes as, quote,
00:42much more than any other program.
00:44The WB says that the richer households benefit more from VAT exemptions because they spend more.
00:50By contrast, the 4Ps specifically targets poor households.
00:53In its report, the World Bank describes it as having the strongest demonstrated poverty reduction impact among major transfer programs.
