ADB grants P225K to help PH craft growth strategy

The Asian Development Bank (ADB) has approved a $225,000 grant to help the Philippine government develop an economic growth strategy aimed at achieving high-income status by 2040.

The grant will assist the Department of Finance (DOF) in formulating reforms to boost potential GDP growth and create skilled jobs.

ADB noted that the socioeconomic impacts of the COVID-19 pandemic have created significant development challenges, emphasizing the need for a new strategy to sustain economic growth.