MANILA, Dec 8 (NNN-PNA) – The Asian Development Bank (ADB), today said, it has approved a loan of 200 million U.S. dollars, to support the Philippines in delivering “high-quality, inclusive, climate-resilient, and low-carbon public infrastructure.”
The loan will support the preparation of “complex and critical climate-resilient” road, bridge, transport, and flood risk management projects, identified by the government as flagship projects.
The ADB will also assist in building up the capacity of implementing agencies, such as, the Department of Transportation and the Department of Public Works and Highways, to implement large and complex infrastructure projects, the bank said.
“The Philippines has raised its public infrastructure spending in recent years, to steer the economy towards a sustainable, high-growth path,” said ADB Senior Transport Specialist, Daisuke Mizusawa.
“With this additional financing, we aim to help the government scale up the scope of its investments, further improve the readiness and quality of public infrastructure projects, and strengthen public investment management systems,” Mizusawa said.
Official data showed that, the ADB’s support for infrastructure development in the Philippines has steadily grown since 2018, and now accounts for almost 60 percent of the ADB’s total portfolio in the country.– NNN-PNA