43300-013: Countercyclical Support Loan | Asian Development Bank

Philippines: Countercyclical Support Loan

Sovereign (Public) Project | 43300-013 Status: Closed

ADB is helping the Philippines ramp up fiscal spending to counter the global economic crisis. The short-term fiscal stimulus loan will help close the government's budget financing gap for 2009, and maintain its social spending and development objectives. It will support crisis-mitigating programs, including labor-intensive infrastructure projects and the conditional cash transfer program.

Project Details

Project Officer
Bird, Kelly Southeast Asia Department Request for information
  • Philippines
  • Loan
  • Public sector management
Project Name Countercyclical Support Loan
Project Number 43300-013
Country Philippines
Project Status Closed
Project Type / Modality of Assistance Loan
Source of Funding / Amount
Loan 2538-PHI: Countercyclical Support Loan
Ordinary capital resources US$ 500.00 million
Strategic Agendas Inclusive economic growth
Drivers of Change Gender Equity and Mainstreaming
Governance and capacity development
Sector / Subsector

Public sector management / Economic affairs management

Gender Equity and Mainstreaming Some gender elements
Project Rationale and Linkage to Country/Regional Strategy
Project Outcome
Description of Outcome
Progress Toward Outcome
Implementation Progress
Description of Project Outputs
Status of Implementation Progress (Outputs, Activities, and Issues)
Geographical Location
Safeguard Categories
Involuntary Resettlement C
Indigenous Peoples C
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design
During Project Implementation
Responsible ADB Officer Bird, Kelly
Responsible ADB Department Southeast Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, SERD
Executing Agencies
Department of Finance
DOF Building
Bangko Sentral ng Pilipinas Complex
Roxas Blvd., Manila, Philippines
Concept Clearance 16 Mar 2009
Fact Finding 17 Mar 2009 to 01 Apr 2009
MRM 24 Jul 2009
Approval 24 Aug 2009
Last Review Mission -
Last PDS Update 28 Oct 2010

Loan 2538-PHI

Approval Signing Date Effectivity Date Closing
Original Revised Actual
24 Aug 2009 27 Aug 2009 14 Sep 2009 31 Dec 2009 - 31 Dec 2009
Financing Plan Loan Utilization
Total (Amount in US$ million) Date ADB Others Net Percentage
Project Cost 500.00 Cumulative Contract Awards
ADB 500.00 24 Aug 2009 500.00 0.00 100%
Counterpart 0.00 Cumulative Disbursements
Cofinancing 0.00 24 Aug 2009 500.00 0.00 100%

Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

The Public Communications Policy (PCP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.

The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.

In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.

Title Document Type Document Date
Countercyclical Support Project/Program Completion Reports Oct 2011
Countercyclical Support Loan Project/Program Completion Reports Dec 2010
Countercyclical Support Reports and Recommendations of the President Aug 2009
Loan Agreement for Countercyclical Support between Republic of the Philippines and Asian Development Bank Dated 27 August 2009 Loan Agreement (Ordinary Resources) Aug 2009

Safeguard Documents See also: Safeguards

Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

None currently available.

Evaluation Documents See also: Independent Evaluation

None currently available.

Related Publications

None currently available.

The Public Communications Policy (PCP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.

Requests for information may also be directed to the InfoUnit.


No tenders for this project were found.

Contracts Awarded

No contracts awarded for this project were found

Procurement Plan

None currently available.