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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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Govt to get $3.9-B loans from Asian Development Bank


Govt to get $3.9-B loans from Asian Development Bank
Anna Leah E. Gonzales
The Asian Development Bank (ADB) said lending to the Philippines is projected to reach $3.9 billion (about P187 billion) this year.
“Our program is up to $3.9 billion. That includes the APVAX (Asia Pacific Vaccine Access Facility) project of $400 million that was approved in March,” said ADB Philippines Country Director Kelly Bird during a virtual briefing on Wednesday.
© Provided by The Manila Times
A shipment of 500,000 doses of Sinovac vaccine arrives at the Ninoy Aquino International Airport on Sunday, April 11, 2021. PHOTO COURTESY OF THE NATIONAL TASK FORCE AGAINST COVID-19 ....

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Design, funding for P9-B bridges crossing Marikina River in the works — Villar – Manila Bulletin


(photo via DPWH)
Undergoing “detailed engineering design” are J.P. Rizal-Lopez Jaena Bridge and Marcos Highway-St. Mary Bridge (formerly J.P. Rizal-St. Mary Bridge) both in Marikina City; and Kabayani-Katipunan Avenue Extension Bridge (formerly Marikina-Vista Real Bridge). The bridges will link Marikina and Quezon City.
As this developed, Villar said the agency and Asian Development Bank (ADB) signed a memorandum of understanding (MOU) for the projects’ loan application.
The MOU states that the overall scheduled timeline for the engineering works and the National Economic and Development Authority – Investment Coordination Committee review/ approval are identified.  
The loan processing and procurement of the Metro Manila Bridges Project, which cover the three bridges, is expected to be signed in December 2021, Villar said. ....

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ADB to Scale Up Support for Philippines' Infrastructure, Health, Job Recovery


Modern Diplomacy
Published 3 months ago
ADB sovereign lending to the Philippines is expected to reach $9.4 billion between 2021 and 2023, with at least two-thirds going into infrastructure, health, and employment recovery to help the government revitalize the economy amid the coronavirus disease (COVID-19) pandemic.
The Philippines’ Country Operations Business Plan 2021–2023 will support government programs and policies designed to repair damage to the business sector and labor market, accelerate economic recovery, and expand access to public health services.
“We have designed our new Country Operations Business Plan to help the Philippines overcome the socioeconomic impact of the pandemic. We are focusing on infrastructure projects that have large employment multipliers and support long-term economic growth through improved connectivity,” said ADB Vice-President Ahmed M. Saeed. ....

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