Philippines and ADB
In the Spotlight
The Tiwi MakBan Geothermal Power Green Bonds Project, the Philippines' first green bond issue, is helping the country develop its natural resource to reduce fuel imports and help meet energy demand.
As the Philippine government ramps up infrastructure investment, ADB is helping agencies improve project preparation, speed up approvals, shorten start-up times, and deliver faster.
In its new Asian Development Outlook 2017 Update, ADB projects Philippine gross domestic product (GDP) growth to rise modestly from the 6.4% April forecast. GDP growth in 2018 will accelerate to 6.7% through increased public investment and household consumption.
This country brief summarizes how the partnership of ADB and the Government of the Philippines has been instrumental to the development of the country. From 1969 to 2010, ADB approved loans amounting to $12.4 billion for the Philippines.
The Philippines is among the fastest-growing economies in Southeast Asia, with upgrades to sovereign investment ratings confirming improvements in the country’s macroeconomic fundamentals. The government has defined its development objectives as driving rapid but inclusive economic growth, accelerating employment on a massive scale, and reducing poverty.
Since 1966, ADB has been a strong partner in the development of the Philippines, its host country. The country operations business plan, 2017-2019 will help the government achieve more inclusive growth and address income inequalities and regional disparities.
The Philippines is part of the Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA).
Read the ADB and Philippines fact sheet.
Projects in the Philippines
- Infrastructure Preparation and Innovation Facility
- Strengthening Infrastructure Capacity and Innovation for Inclusive Growth
- Facilitating Youth School-to-Work Transition Program (Subprogram 1)
- Local Government Finance and Fiscal Decentralization Reform Program, Subprogram 2
- Strengthening Tax and Fiscal Policy Capacity for Inclusive Growth
- Expanding Private Participation in Infrastructure Program, Subprogram 1
- Encouraging Investment through Capital Market Reforms Program (Subprogram 1)
- Strengthening Institutions for Investments in Mindanao
- Increasing Competitiveness for Inclusive Growth Program (Subprogram 2)
- Teach for the Philippines
Population in Philippines, in millions (2016)
Population living below the national poverty line in Philippines (2015)
Average annual population growth rate in Philippines (2011-2016)
Maternal mortality ratio in Philippines, per 100,000 live births (2015)