ADB OKs $300M loan for PH LGUs to deliver services, reduce poverty | Inquirer Business

ADB OKs $300M loan for PH LGUs to deliver services, reduce poverty

By: - Business News Editor / @daxinq
/ 04:10 PM November 14, 2019

The Asian Development Bank has approved a $300-million loan to support efforts to help local government units nationwide deliver high-quality and accountable services, push progress and reduce poverty.

In a statement, the Manila-based multilateral lender said the loan, which is part of its Local Governance Reform Program, will help local governments meet needs of citizens.

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It would also ensure delivery of basic services aligned with local nuances, improve revenue collection by local government units and lower costs of doing business for the private sector.

The program is in line with the government’s plan to expand the role of LGUs as catalysts of local economic development as outlined in the Philippine Development Plan 2017–2022.

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Edited by TSB

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TAGS: ADB, Business, LGUs, loan, local governments, Poverty, Reform, services
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