MANILA, PHILIPPINES - The Asian Development Bank’s (ADB) Board of Directors today approved a $400 million loan to support the expansion of the Philippines’ conditional cash transfer program, known locally as the Pantawid Pamilyang Pilipino Program, a cornerstone of the country’s social reform efforts in the wake of the global economic crisis.

The project, administered by the Department of Social Welfare and Development (DSWD), will provide direct financial support to 582,000 of the Philippines’ poorest families. Unlike traditional welfare programs, only families who keep their children in school and ensure that children and pregnant women get regular health checkups can receive the cash grants.

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