Philippines

ADB Celebrates 40th Anniversary

On 19 December 2006, the Asian Development Bank celebrates its 40th anniversary.

The work of the Asian Development Bank (ADB) is aimed at improving the welfare of the people in Asia and the Pacific, particularly the 1.9 billion who live on less than $2 a day. Despite many success stories, Asia and the Pacific remains home to two thirds of the world's poor. ADB is a multilateral development financial institution owned by 66 member countries, 47 from the region and 19 from other parts of the globe. ADB's vision is a region free of poverty. Its mission is to help its developing member countries reduce poverty and improve the quality of life of their citizens. ADB's main instruments for providing help to its developing member countries are policy dialogue, loans, technical assistance grants, guarantees, equity investments. ADB's annual lending volume is typically about $6 billion, with technical assistance usually totaling about $180 million a year. The ADB headquarters is in Manila. We have 26 other offices around the world: 19 resident missions in Asia, 3 subregional offices in the Pacific, representative offices in Frankfurt for Europe, Tokyo for Japan, and Washington, DC for North America and a special liaison office in Timor-Leste. The ADB has more than 2,000 employees from over 50 countries.

ADB-Philippines Development Partnership

The Philippines is one of the top borrowers of ADB, with cumulative borrowings of over $8 billion since 1969. Out of 150 loans, 138 are closed and 22 loan projects worth $1.2 billion are ongoing.

In support of private sector development, ADB’s interventions have focused on the infrastructure sector (i.e. transport, energy, water) and financial sector (capital markets, nonbank financial sector). During 1986-2005, private sector operations provided $475.3 million in loans to 15 private sector projects; and $36.8 million to 19 equity investments.

For 2006, ADB is preparing 4 public sector loans: Power Sector Development Program; Financial Market Regulation and Intermediary Program; Angat Water Utilization and Aqueduct (using the Multitranche Financing Facility); and Integrated Coastal Resource Management project. These form part of a lending pipeline of up to $1.5 billion during 2005-2007, subject to the fiscal consolidation program being on track, and sector reforms being implemented.

ADB pursues regular dialogues with Government in ensuring that our resources are directed to priority sectors and areas that benefit the poor. We conduct country programming discussions to identify and plan for projects that support the thrusts and priorities of both the Government and ADB. Since many of our ongoing programs are faced with implementation difficulties, we ensure that new projects are considered priority, are well designed, have sufficient counterpart budget, and are ready for implementation.

Under the new Country Strategy and Program (CSP) for the Philippines, ADB's resources will be directed to programs that aim for fiscal consolidation, and investment projects designed to support commitments to the Millennium Development Goals, including in health, water supply and sanitation, microfinance, and small and medium enterprises. Our ongoing portfolio will continue to support the areas of agriculture, education and health, infrastructure development in power and transportation, environmental management, housing and urban development, and governance.

Relationship with ADB

Future Directions