Hanoi (VNA) - The Asian Development Bank(ADB) said on December 8 that it has approved a loan of 200 million USD to supportthe Philippines in delivering high-quality, inclusive, climate-resilient, andlow-carbon public infrastructure.
The loan will support the preparation of complex andcritical climate-resilient road, bridge, transport, and flood risk managementprojects identified by the government as flagship projects, the bank said.
The ADB will also assist in building up the capacityof implementing agencies such as the Department of Transportation and theDepartment of Public Works and Highways to implement large and complex infrastructureprojects.
ADB Senior Transport Specialist Daisuke Mizusawa saidthe Philippines has raised its public infrastructure spending in recent yearsto steer the economy towards a sustainable, high-growth path.
With this additional financing, the bank aims tohelp the Philippine government scale up the scope of its investments, furtherimprove the readiness and quality of public infrastructure projects, andstrengthen public investment management systems, he said.
Official data showed that the ADB's support forinfrastructure development in the Philippines has steadily grown since 2018,and now accounts for almost 60% of the bank's total portfolio in the country./.
The loan will support the preparation of complex andcritical climate-resilient road, bridge, transport, and flood risk managementprojects identified by the government as flagship projects, the bank said.
The ADB will also assist in building up the capacityof implementing agencies such as the Department of Transportation and theDepartment of Public Works and Highways to implement large and complex infrastructureprojects.
ADB Senior Transport Specialist Daisuke Mizusawa saidthe Philippines has raised its public infrastructure spending in recent yearsto steer the economy towards a sustainable, high-growth path.
With this additional financing, the bank aims tohelp the Philippine government scale up the scope of its investments, furtherimprove the readiness and quality of public infrastructure projects, andstrengthen public investment management systems, he said.
Official data showed that the ADB's support forinfrastructure development in the Philippines has steadily grown since 2018,and now accounts for almost 60% of the bank's total portfolio in the country./.
VNA
