Philippines

This e-Newsletter provides current information on the ADB's work in helping achieve a Philippines free of poverty.

IN THIS ISSUE

Updates

• ADB Issues P2.5 Billion In Philippine Peso Bonds
• Single Currency Should be Asia's Long-Term Objective, ADB President Says in Manila Lecture
• ADB Urged to Continue Helping Philippine Power Sector
• $1 Million Grant Approved to Support Philippine Health Sector Reform
• US$44.4 Million ADB Support for Small and Medium Enterprise Development in Philippines
• Local Governments are Philippines' Best Bet for Better Infrastructure and Service Delivery, Says ADB/WB Report
• Public Market Inaugurated in Project Bringing New Opportunities to Mindanao, Philippines
• Development Partners to Support New Ways to Promote Equity in RP
• Subdued Exports and Investment Weaken Philippine Growth Prospects

Features

  Updates

ADB Issues P2.5 Billion In Philippine Peso Bonds

MANILA, PHILIPPINES (28 October 2005) - The Asian Development Bank (ADB) priced today its debut Philippine peso bonds in the domestic capital market of the Philippines. The issue has a principal amount of P2.5 billion and a bullet maturity of five years and one day. The sole lead manager and sole Bookrunner of the issue was HSBC. Read the news release.

Single Currency Should be Asia's Long-Term Objective, ADB President Says in Manila Lecture

MANILA, PHILIPPINES (26 October 2005) - Asia's long-term objective should be monetary union with a single currency, ADB President Haruhiko Kuroda said in a lecture in Manila today. Read the news release and speech.

ADB Urged to Continue Helping Philippine Power Sector

MANILA, PHILIPPINES (26 October, 2005) - ADB should continue to support the Philippine power sector, particularly its transformation to a well regulated, competitive sector that is financially viable, according to a new report.

Read the news release.

$1 Million Grant Approved to Support Philippine Health Sector Reform

MANILA, PHILIPPINES (20 October 2005) - ADB has approved a US$1 million technical assistance grant to support the Philippine Government's Health Sector Reform Agenda.

Read the news release.

US$44.4 Million ADB Support for Small and Medium Enterprise Development in Philippines

MANILA, PHILIPPINES (5 October 2005) - ADB will support the development of small and medium enterprises (SMEs) in the Philippines through an assistance package approved comprising a US$25 million loan, a partial credit guarantee facility of about $18.4 million, and an equity investment of up to $1 million.

Read the news release.

Local Governments are Philippines' Best Bet for Better Infrastructure and Service Delivery, Says ADB/WB Report

MANILA, PHILIPPINES (4 October 2005) - Effective decentralization of services through local governments is key to responding to public needs and delivering services, such as health and local infrastructure, says a new report from ADB and the World Bank.

Read the news release.

Public Market Inaugurated in Project Bringing New Opportunities to Mindanao, Philippines

MANILA, PHILIPPINES (28 September 2005) - A new public market built with ADB assistance will be inaugurated tomorrow to boost economic opportunities in a once strife-torn area of the Philippines.

Read the news release.

Development Partners to Support New Ways to Promote Equity in RP

MANILA, PHILIPPINES (16 September 2005) - International and local development partners in the Philippines are once again joining hands to support "Panibagong Paraan 2006," a unique competition of innovative project ideas, policy proposals and other creative entries that respond to the theme, "Development with Equity."

Read the news release. [ PDF ]

Subdued Exports and Investment Weaken Philippine Growth Prospects

MANILA, PHILIPPINES (8 September 2005) - Hurt by a global electronics downturn, weak farm output, and tepid investment, the Philippine growth forecast for 2005 has been trimmed by the Asian Development Bank (ADB), in its Asian Development Outlook 2005 Update (Update) released today.

Read the news release.

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  Publications

• Decentralization in the Philippines: Strengthening Local Government Financing and Resource Management in the Short Term (A joint document of the Asian Development Bank and the World Bank, March 2005) [ PDF: 482kb | 69 pages ]
• Key Indicators 2005: Labor Markets in Asia: Promoting Full, Productive, and Decent Employment
• Asian Development Outlook 2005 (Update)
• Sector Assistance Program Evaluation of Asian Development Bank Assistance to Philippines Power Sector (Philippines) [ PDF ]

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  Features

What's New on the PhCO Website

Video clips from local TV and other multimedia features on ADB-financed Philippine projects are now available on the PhCO website's Multimedia page.

• Southern Philippines Irrigation Project
  Agriculture production and farmers' income in the Southern Philippines will be raised as a result of the US$60 million Southern Philippines Irrigation Sector Project.

• With ADB Funding, Puerto Princesa Eyes to be No.1
  Puerto Princesa City -- Almost P2 billion worth of infrastructure projects funded by the Asian Development Bank in this city are boosting its US$100 million development plan which will make it ready for a massive tourism promotion that aims to bring in 600,000 tourists in just three years' time.

• River Waste Goes Up in Smoke and Helps Poor Fisherfolk in the Process
  An environmental army in Calauan, Laguna has taken the matter of cleaning up the Laguna Lake Basin into their own hands and making money out of it in the process.

• From 'HOME ALONG DA RILES' to 'DREAMLAND'
  SAN PEDRO, LAGUNA, PHILIPPINES - Informal settlers living near the Muntinlupa railroad tracks no longer risk life and limb and hear the incoming screech of trains but have their own homes and livelihood in Dreamland Heights, San Pedro, Laguna, made possible through a US$1 million grant from the Asian Development Bank's (ADB) Japan Fund for Poverty Reduction, financed by the Government of Japan.

• Winnie's Wrath
  QUEZON, PHILIPPINES - In late November 2004, devastating flashfloods caused by typhoon Winnie claimed hundreds of lives and damaged vital infrastructure in Aurora and Quezon provinces. The flashfloods damaged the P85 million Agos Bridge which was completed in August 2002 and served as the only link between the towns of General Nakar and Infanta.

• Clean Air (Audio Only)

• Cordillera Highland Agriculture Resource Management Project:
  High Bandwidth | Low Bandwidth

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