ADB Offers USD1.2 Billion Loans to Philippines

The Asian Development Bank is ready to provide some USD1.2 billion in loans and technical assistance to the Philippines over the next two years. The funding will back projects focusing on environmental management, financial market regulation, policy reform, urban development, road enhancement, water services, energy efficiency, and irrigation projects, among others. “A more definite program, consistent with the final work program and budget framework of ADB, will be discussed during the country confirmation mission,” the regional lender said in a statement. (“ADB commits USD1.2B in loans to Manila” - Business Mirror, Nov. 11, 2008)

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