The Philippines is among the top recipients of loan and grant financing from the Asian Development Bank (ADB) across the region. Know more:
THE Philippines is among the top recipients of loan and grant financing from the Asian Development Bank across the region.
“Our support in 2022 helped our developing member countries [DMCs] navigate the immediate impacts of these crises while bolstering their longer-term resilience in critical areas such as climate change and food security,” said ADB President Masatsugu Asakawa. Cofinancing from ADB and its partners allowed the country to tap into $423.9 million for projects and $9.9 million for technical assistance.
Meanwhile, in the region, Pakistan received the largest commitment from ADB worth $5.584 billion followed by Bangladesh, $3.935 billion; India, $3.117 billion; and Vietnam, $3.094 billion. ADB said it “continues to closely monitor the situation in the country and remains committed to supporting its people.”
To support economic recovery, ADB financed institutional reforms, strengthened public service delivery, and growth in key economic sectors. ADB’s $3.9 billion in commitments to the private sector included vital liquidity support to enterprises facing a difficult business environment.
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