Hanoi (VNA) - The Asian Development Bank (ADB) said on December 8 that it has approved a loan of 200 million USD to support the Philippines in delivering high-quality, inclusive, climate-resilient, and low-carbon public infrastructure.
The loan will support the preparation of complex and critical climate-resilient road, bridge, transport, and flood risk management projects identified by the government as flagship projects, the bank said.
The ADB will also assist in building up the capacity of implementing agencies such as the Department of Transportation and the Department of Public Works and Highways to implement large and complex infrastructure projects.
ADB Senior Transport Specialist Daisuke Mizusawa said the Philippines has raised its public infrastructure spending in recent years to steer the economy towards a sustainable, high-growth path.
With this additional financing, the bank aims to help the Philippine government scale up the scope of its investments, further improve the readiness and quality of public infrastructure projects, and strengthen public investment management systems, he said.
Official data showed that the ADB's support for infrastructure development in the Philippines has steadily grown since 2018, and now accounts for almost 60% of the bank's total portfolio in the country./.
The loan will support the preparation of complex and critical climate-resilient road, bridge, transport, and flood risk management projects identified by the government as flagship projects, the bank said.
The ADB will also assist in building up the capacity of implementing agencies such as the Department of Transportation and the Department of Public Works and Highways to implement large and complex infrastructure projects.
ADB Senior Transport Specialist Daisuke Mizusawa said the Philippines has raised its public infrastructure spending in recent years to steer the economy towards a sustainable, high-growth path.
With this additional financing, the bank aims to help the Philippine government scale up the scope of its investments, further improve the readiness and quality of public infrastructure projects, and strengthen public investment management systems, he said.
Official data showed that the ADB's support for infrastructure development in the Philippines has steadily grown since 2018, and now accounts for almost 60% of the bank's total portfolio in the country./.
VNA
