ADB OKs $400-M loan to boost PH capital markets

The Asian Development Bank (ADB) has approved a $400 million loan to support the Philippine government's efforts to strengthen domestic capital markets.

The loan aims to address constraints limiting the growth of government and corporate bond markets, build an institutional investor base for long-term infrastructure finance, and boost public infrastructure spending.

This initiative aligns with the 'Build, Build, Build' program targeting a 7% increase in infrastructure spending by 2022.

The ADB noted that resilient capital markets are crucial for economic development and poverty reduction.