Philippines and ADB
In the Spotlight
The ADB-supported Infrastructure Preparation and Innovation Facility has contracted out the first of three consulting packages to help the Philippine government prepare several complex infrastructure projects worth more than $11 billion.
ADB signed an agreement with the Philippine National Oil Company to act as transaction advisor for the Philippines’ first liquefied natural gas (LNG) hub project in Batangas.
ADB Board of Directors has approved a $380 million loan to help the Philippine government strengthen the road network and spur economic development in Mindanao, the country’s second largest island with about 20 million people.
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
- Facilitating Youth School-to-Work Transition Program (Subprogram 1)
- Local Government Finance and Fiscal Decentralization Reform Program, Subprogram 2
- Expanding Private Participation in Infrastructure Program, Subprogram 1
- Encouraging Investment through Capital Market Reforms Program (Subprogram 1)
- Strengthening Institutions for Investments in Mindanao