ADB approves 400 mln USD loan to support Philippines
Hanoi, (VNA) – The Asian Development Bank (ADB) said on
May 26 that it has approved a 400 million USD loan to support the Philippine government's
efforts to strengthen domestic capital markets and reach its development goals
of high, sustained economic growth and poverty reduction.
The lender said the Support to Capital
Market-Generated Infrastructure Financing Programme, Subprogramme 1, aims to
address key constraints that have limited the growth of domestic capital
markets, especially government and corporate bond markets.
The programme also focuses on building a
vibrant domestic institutional investor base.
According to the ADB, the development
programme will support higher public infrastructure spending for years to come.
This new loan brings ADB's
total lending to the Philippines to 2.1 billion USD so far this year, the bank
added./.