The World Bank has approved $400m (€312m, £216m) of loans to thePhilippines in the past two weeks, more than the total of the past three years, in a show of confidence in the country's improving fiscal position.

The lender cleared a $110m loan to support health reforms and $100m to promote local development and investment on Friday. The approvals came less than a week after the bank made a $200m loan to help improve education in the country.