Philippines : Support for Development of Philippine Growth Strategy

Sovereign Project | 55313-001

The TA will support the Philippines' Department of Finance (DOF) formulate a growth strategy that will guide necessary structural reforms to lift potential growth and create skilled jobs. The socioeconomic impacts of the Coronavirus disease (COVID-19) pandemic created many development challenges. This strategy will identify new sources of sustained growth that will help the Philippines consistently achieve a real GDP growth to become a high-income country in the 2040s.

Project Details

  • Project Officer
    Lozano Astray, Maria Cristina
    Southeast Asia Department
    Request for information
  • Country/Economy
    Philippines
  • Sector
    • Industry and trade
Project Name Support for Development of Philippine Growth Strategy
Project Number 55313-001
Country / Economy Philippines
Project Status Active
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 6902-PHI: Support for Development of Philippine Growth Strategy
Technical Assistance Special Fund US$ 225,000.00
Operational Priorities OP5: Promoting rural development and food security
OP6: Strengthening governance and institutional capacity
Sector / Subsector

Agriculture, natural resources and rural development / Agro-industry, marketing, and trade

Industry and trade / Industry and trade sector development - Trade and services

Information and communication technology / ICT industries and ICT-enabled services

Public sector management / Economic affairs management

Gender No gender elements
Description The TA will support the Philippines' Department of Finance (DOF) formulate a growth strategy that will guide necessary structural reforms to lift potential growth and create skilled jobs. The socioeconomic impacts of the Coronavirus disease (COVID-19) pandemic created many development challenges. This strategy will identify new sources of sustained growth that will help the Philippines consistently achieve a real GDP growth to become a high-income country in the 2040s.
Project Rationale and Linkage to Country/Regional Strategy The Philippines has been hard hit by the COVID-19 pandemic. Gross domestic product (GDP) shrunk by 9.6% in 2020 and unemployment peaked at 17.6% of the labor force in April 2020 during the most severe lockdown to contain the spread of the virus. The economy is showing gradual signs of recovery. GDP rose by 3.7% year on year in the first half of 2021, rebounding from the 9.3% decline in the same period of 2020. While GDP continued to contract in Q1, it was followed by strong 11.8% recovery in Q2, reversing the steep decline in prior year. Investment was the most significant contributor to the rebound in Q2, followed by household consumption. The unemployment rate has since eased to 7.7% in June 2021. Progress in vaccination is helping restore consumer and business confidence. An expansionary fiscal policy continues to support growth, especially infrastructure investment. ADB projects GDP growth at 4.5% in 2021 picking up to 5.5% in 2022.
Impact

Targeted structural reforms, aligned with the long-term development plan Ambisyon Natin 2040, implemented.

Project Outcome
Description of Outcome

Long-term growth strategy for the Philippines developed

Progress Toward Outcome
Implementation Progress
Description of Project Outputs

Economic complexity analysis, inclusive of services, undertaken.

Status of Implementation Progress (Outputs, Activities, and Issues)
Geographical Location Nation-wide
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 Lozano Astray, Maria Cristina
Responsible ADB Department Southeast Asia Department
Responsible ADB Division Philippines Country Office (PHCO)
Executing Agencies
Asian Development Bank
Department of Finance
Timetable
Concept Clearance -
Fact Finding 27 Sep 2021 to 30 Sep 2021
MRM -
Approval 28 Dec 2021
Last Review Mission -
Last PDS Update 07 Jan 2022

TA 6902-PHI

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
28 Dec 2021 - 28 Dec 2021 31 Jul 2022 31 Jul 2025 -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
225,000.00 0.00 0.00 0.00 0.00 0.00 225,000.00 21 Nov 2023 6,357.73

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 Access to Information Policy (AIP) 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.

None currently available.


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 Access to Information Policy (AIP) 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.

Tenders

Tender Title Type Status Posting Date Deadline
Legal Expert (Fiscal sectors and regulations for the telecommunications industry) Individual - Consulting Closed
Legal Expert (infrastructure development and regulations for agriculture and natural resources) Individual - Consulting Closed
Development Policy Expert Individual - Consulting Closed
Technical consultant - statistical, econometric modelling Individual - Consulting Closed

Contracts Awarded

No contracts awarded for this project were found

Procurement Plan

None currently available.