Close  
  • share this

ADB hikes share of infra loans to PH

/ 05:14 AM December 06, 2017

In line with the Duterte administration’s ambitious “Build, Build, Build” program, the Manila-based multilateral lender Asian Development Bank has raised the share of infrastructure financing in its loan program for the Philippines for the next three years.

In a statement Tuesday, the Department of Finance said that for the 2018-2020 period, 48 percent of the ADB’s lending program for the Philippines would be for infrastructure projects, a higher share compared with the 34 percent of actual lending approvals in 2011-2016.

ADVERTISEMENT

“On top of these available funds under the ADB’s Country Operations Business Plan (COBP), sovereign loans offered by the multilateral institution for the country’s infrastructure-related projects account for almost 40 percent of its $3.68-billion Philippine sovereign lending program for 2018 to 2020,” the DOF added.

Quoting the ADB, the DOF said that the new COBP covering the three-year period of 2018 to 2020 would provide $1.9 billion for sustainable infrastructure and development, $1.2 billion for regional development and finance and $900 million for human development.

FEATURED STORIES

Also, under the ADB’s Sovereign Lending Program for the Philippines, it has made available about $920 million in funds, with another $400 million on standby for 2018, $1.4 billion for 2019 and $1.36 billion for 2020, with $600 million on standby, the DOF said.

The ADB also reaffirmed its support for the Philippines’ flagship infrastructure projects by cofinancing with Japan the Malolos-Clark Railway and the North-South Commuter Rail line from Tutuban in Manila to Los Baños in Laguna, according to the DOF. —BEN O. DE VERA

Read Next
LATEST STORIES
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: “Build, ADB, Duterte Administration
For feedback, complaints, or inquiries, contact us.



© Copyright 1997-2019 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.