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ADB approves 200-mln-USD loan for Philippines

The Asian Development Bank (ADB) said on December 13 that it has approved a 200 million USD loan to help the Philippine government prepare implement major infrastructure projects under its flagship "Build, Build, Build" development programme.
ADB approves 200-mln-USD loan for Philippines ảnh 1A corner of Manila - the capital of the Philippines (Source: http://topplus.vn/)

Hanoi (VNA) - The Asian Development Bank (ADB) said on December13 that it has approved a 200 million USD loan to help the Philippinegovernment prepare implement major infrastructure projects under its flagship"Build, Build, Build" development programme.

The loan, as additionalfinancing to the ongoing Infrastructure Preparation and Innovation Facility(IPIF), will support the preparation of several projects, including thedetailed engineering design of an interlink bridge that connects the provincesof Bataan and Cavite and the Metro Rail Transit Line 4.

The bank will also provide supportfor staff at the country's Department of Transportation and the Department ofPublic Works and Highways, so they can effectively and efficiently managecomplex infrastructure projects.

The 'Build, Build, Build' programme, a main focus of the Philippine government,aims to boost long-term economic growth by increasing public infrastructureinvestments to 7 percent of GDP by 2022.

According to ADB, publicspending on infrastructure has been on an uptrend in the Philippines, reachingover 5 percent in 2018, up from around 3 percent in 2015 before PresidentRodrigo Duterte assumed office in June 2016./.
VNA
#Asian Development Bank (ADB) #loan #the Philippine government #infrastructure projects #"Build #Build #Build" development programme #Infrastructure Preparation and Innovation Facility (IPIF) #Vietnamplus #Vietnam News Agency Philippines
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