Pasay city: 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, said the Philippines is a shareholder of the multilateral institution, 'so our role is to help' amidst any situation.
According to Philippines News Agency, Jerries emphasized that the role of ADB is to assist developing member countries in solving problems. He noted that the collaboration with the Philippines and other developing member countries has been ongoing for 58 years, and the processes in place are crucial for continued support.
Among ADB's current initiatives is a proposed USD400 million financing proposal for the Philippines, known as the Business Environment Strengthening with Technology Program (subprogram 1), which will be extended through the Department of Finance. This initiative aims to enhance the business environment and aligns with the Philippine Development Plan (PDP) 2023-2028 and the 8-Point Socioeconomic Agenda. The program's concept note, posted on the ADB website, outlines its objectives to reduce regulatory burden, increase transparency, facilitate investment, and advance the transition to digital government.
In terms of infrastructure projects, Jerries highlighted two river basin projects in Northern Luzon and Mindanao. These include the integrated flood resilience and adaptation project - phase 1, specifically targeting the Abra River Basin in municipalities such as San Quintin, Langiden, Pidigan, Bangued, and Tayum, alongside the Ranao (Agus) and Tagum-Libuganon River basin in Mindanao. The project is budgeted at approximately USD303.24 million (PHP17.6 billion), with construction set to commence in the second half of this year. Jerries also mentioned that larger flood protection projects are in the pipeline for future support.
