ADB extends record $4.2B in loans to PH

The Asian Development Bank (ADB) will extend a record $4.2 billion in loans to the Philippines this year.

This amount is nearly double the previous high of $2.5 billion set in 2019 and includes projects aimed at improving healthcare systems and infrastructure development, particularly under the Build, Build, Build program.

Six loan programs have already been approved, including a $1.5-billion loan for COVID-19 pandemic response and various social protection and infrastructure projects.

Additional loans totaling over $700 million are expected to be approved later this year, focusing on health systems enhancement, disaster resilience improvement, and the EDSA greenways project.