ADB raises Philippines loans for infrastructure and inclusive finance programs

Region:

Asia-Pacific

The Asian Development Bank has agreed a $300 million loan for the Expanding Private Participation in Infrastructure Program, plus another $300 million for the Inclusive Finance Development Program, in the Philippines.

ADB President Takehiko Nakao affirmed that ADB's loan commitments for the Philippines will reach a record $1.3 billion for 2018. Aside from EPPIP and IFDP, another loan will support the Philippines' Improving Growth Corridors in Mindanao Roads Sector project. On Friday, the ADB board approved the $408 million Emergency Assistance for Reconstruction and Recovery of Marawi financing package.

By 2019, ADB expects to further increase its loan commitments to the Philippines to as high as $2.9 billion.

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