The Philippine government can rely on continued policy improvement and infrastructure project support from the Manila-based Asian Development Bank (ADB) to boost the country’s expansion.
ADB Country Director for the Philippines Andrew Jerries, in an interview on the sidelines of the Arangkada Philippines investment forum in Marriott Manila in Pasay City on Thursday, said the Philippines is a shareholder of the multilateral institution, “so our role is to help” amidst any situation.”
“Our role is to try to help our developing member countries-governments solve problems,” he said.
“We've been working with this government and all of our developing member country-governments for 58 years or so. It doesn't stop our work, but it makes the processes we have in place all the more important.”
Among others, ADB currently has a proposed $400 million financing proposal for the Philippines, dubbed Business Environment Strengthening with Technology Program (subprogram 1), to be extended through the Department of Finance.
This aims to support and strengthen measures to enhance the business environment and is aligned with the government’s Philippine Development Plan (PDP) 2023–2028 and the 8-Point Socioeconomic Agenda.
“This will boost competitiveness and private sector development, stimulating job creation and expanding economic opportunity. The program will reduce regulatory burden and increase transparency, facilitate investment in sectors with strong development impacts, and advance the transition to digital government,” according to the program’s concept note as posted on the ADB website.
In terms of infrastructure projects, Jerries said they currently have, among others, two river basin projects in Northern Luzon and in Mindanao.
He is referring to the integrated flood resilience and adaptation project - phase 1, specifically the Abra River Basin Package that will be implemented in the municipalities of San Quintin, Langiden, Pidigan, Bangued, and Tayum; and the Ranao (Agus) and Tagum-Libuganon River basin in Mindanao.
The project has a budget of around $303.24 million (P17.6 billion), and construction is targeted to start within the second half of this year.
“We're working on a larger one that's a few years away. So, we will be likely supporting flood protection more in the future,” Jerries added.
