ADB support to the Philippines to reach record high in 2020–2022

October 17, 2019

The Asian Development Bank’s (ADB) sovereign lending for the Philippines is expected to reach $9.1 billion between 2020 and 2022, as the government seeks to invest more in much-needed infrastructure and pro-poor projects that will merge rural areas into urban growth centers.

The indicative pipeline is in line with the priorities identified in ADB’s country partnership strategy, the bank said in a statement on Thursday.

In the Philippines Country Operations Business Plan (COPB) 2020–2022, ADB said it will invest 59.5 percent of its three-year sovereign lending program in transportation projects, such as railways, bridges, road networks, and elevated pedestrian walkways.

The rest of its financial support will be devoted to the social sector, agriculture, public sector management, and sustainable water and urban development.

“This latest Country Operations Business Plan reflects ADB’s strong commitment to supporting the Philippines’ efforts to sustain inclusive economic growth, create business and job opportunities in the regions, and widen the reach of the government’s education, health, and social protection programs,“ said ADB Country Director for the Philippines Kelly Bird. DMS