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    ADB OKs Budget Support for Philippines

    By Ma. Rizza Leonzon // 25 August 2009

    The Asian Development Bank has sanctioned a $500 million loan to help plug the Philippines' budget deficit, according to

    . The sum will be drawn from the regional lender's $3 billion countercyclical fund. The five-year loan is expected to be disbursed in September, Philippine finance undersecretary for international finance group Rosalia de Leon said.

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    Printing articles to share with others is a breach of our terms and conditions and copyright policy. Please use the sharing options on the left side of the article. Devex Pro members may share up to 10 articles per month using the Pro share tool ( ).

    About the author

    • Ma. Rizza Leonzon

      Ma. Rizza Leonzon

      As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.

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