North Luzon Expressway in the Philippines (Photo: adb.org)
 

​Hanoi (VNA) - The Asian Development Bank (ADB) has provided 3.8 billion USD in loans to fund infrastructure and social services programmes in the Philippines.

According to the Philippine Department of Finance, the loans under the ADB’s Country Operation Business Plan (COBP) for the Phillipines will focus on three priority areas.

Of the sum, 1.8 billion USD or 47.4 percent will go to infrastructure development, about 1.5 billion USD or 39.5 percent for education and skills development, access to finance, expanded social protection and employment opportunities for the youth, and 500 million USD or 13.1 percent for programs on good governance and finance.

The COBP will be carried out from 2018 to 2020.-VNA