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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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ADB plans to lend $3.5 billion to Philippines this year

ADB plans to lend $3.5 billion to Philippines this year
Louise Maureen Simeon
© AFP/File
ADB plans to lend $3.5 billion to Philippines this year
MANILA, Philippines Manila-based Asian Development Bank (ADB) is planning to lend $3.5 billion or about P168.65 billion to the Philippines this year to help the country recover from the pandemic-induced recession.
During the Laging Handa briefing yesterday, ADB country director Kelly Bird said the multilateral lender remains committed in financially supporting the Philippines.
“This year, we have a robust lending program with the government. We’re looking at around $3 billion, some of which is to support infrastructure projects,” Bird said, adding that “the amount can be a good stimulus for economic recovery and also provide some of our policy-based lending which is budget support as well. ” ....

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