Asian Development Bank and the Philippines: Fact Sheet
ADB’s country partnership strategy for the Philippines, 2018–2023 supports infrastructure investment, local economic development, and increased social investments in the bottom 40% of the population.
Prior to the coronavirus disease (COVID-19) pandemic, the Philippines’ economic growth had averaged 6.4% annually from 2010 to 2019, with private consumption, investment, and services as major growth drivers. In 2020, however, gross domestic product fell by 9.5% and the country registered its first recession since the Asian Financial Crisis in 1998.
ADB will focus investments on infrastructure, health, and employment recovery to help the government address the impacts of the COVID-19 pandemic.
Updated yearly, this ADB Fact Sheet provides concise information on ADB's operations in the country and contact information.