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ADB targets $3.9 billion lending for Philippines in 2021


ADB targets $3.9 billion lending for Philippines in 2021
Louise Maureen Simeon
© AFP/File
ADB targets $3.9 billion lending for Philippines in 2021
MANILA, Philippines Manila-based Asian Development Bank (ADB) is eyeing to lend some $3.86 billion (P187 billion) to the Philippines this year to help the country move toward economic recovery amid the pandemic.
Based on the updated lending pipeline for the Philippines for 2021, a total of $3.86 billion worth of projects will be financed by the ADB.
Bulk of this or $1.93 billion has been allotted for infrastructure and long-term investments. Another $1.2 billion is for human capital while the remaining $734 million is for local economic development. ....

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ADB lending program for Philippines to reach $3.9B in 2021


By TED CORDERO, GMA News
Published April 28, 2021 2:06pm
The Asian Development Bank’s (ADB) sovereign lending program to the Philippines is seen to reach $3.9 billion this year or roughly P188 billion to support investments in the country’s infrastructure, local economic development, and social assistance amid the COVID-19 pandemic.
At a virtual briefing on Wednesday, ADB Philippines country director Kelly Bird said that the multilateral lender’s lending program this year will focus on its “three pillars” of support for the country, namely:
    Accelerating infrastructure and long-term investments
    Promoting local economic development
    Investing in people
Under the investing in people pillar is the $400-million loan it extended to the Philippines last March to help the country purchase vaccines against COVID-19. ....

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