The Asian Development Bank (ADB) said on Thursday the funds it would lend for various projects in the Philippines were seen to grow to a record $4.2 billion this year. Also included in the program but yet to be approved are the $400 million for the Competitive and Inclusive Agriculture Development Program, Subprogram 1; $300 million for the Inclusive Finance Development Program, Subprogram 1; and the $125 million Health Systems Enhancement to Address and Limit Covid-19. Other projects on the list are the $500 million for the Disaster Resilience Improvement Program, which is seen to be approved in September; and the $130 million for the EDSA Greenways Project, to be approved in November. “Most of the ADB’s resource allocation to lending is really directed toward supporting the government’s Build, Build, Build program. Meanwhile, ADB’s indicative lending program is projected to reach $4.1 billion.

Source: Manila Times July 23, 2020 17:21 UTC