<article><a style="color: #000080;" href="http://www.ADB.org" target="_blank" rel="noopener">Asian Development Bank (ADB)</a> has approved a funding support of more than $3.8 billion for infrastructure and social services projects in the Philippines.</article>

<a style="color: #000080;" href="http://www.ADB.org" target="_blank" rel="noopener">Asian Development Bank (ADB)</a> has approved a funding support of more than $3.8 billion for infrastructure and social services projects in the Philippines.
The <a href="https://www.dealstreetasia.com/?s=IFG" target="_blank" rel="noopener">International Finance Group (IFG)</a> of the Philippines&#8217; <a href="https://www.dealstreetasia.com/?s=DOF" target="_blank" rel="noopener">Department of Finance (DOF)</a> disclosed the country can get about $3.8 billion in loans, and another $21.8 million in non-lending financing from ADB under its Country Operations Business Plan (COBP).
The proposed funding support offers $1.8 billion or 47.4 per cent to infrastructure development, and $1.5 billion or 39.5 per cent for education and skills development, access to finance, expanded social protection and employment opportunities for the youth.
The remaining $500 million or 13.1 per cent is for programmes on good governance and finance.
ADB&#8217;s COBP will cover the period from 2018 to 2020, in which 39 per cent of the proposed lending pipeline will be for program loans, and 61 per cent for project loans.
The Manila-based regional bank also agreed to explore co-financing arrangements with the <a href="https://www.dealstreetasia.com/?s=JICA" target="_blank" rel="noopener">Japan International Cooperation Agency (JICA)</a> on major infrastructure projects in the Philippines such as the proposed PNR Malolos-Clark Railway and the PNR Commuter South Line project, the IFG said.
ADB also committed to design a $300-million package of critical transportation infrastructure initiatives to ease Metro Manila traffic. It is even mulling co-financing the initiative with other multilateral institutions like the Asian Infrastructure Investment Bank, and the Agence Francaise de Development, the IFG added.
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The Philippines can get about $3.8 billion in loans, and another $21.8 million in non-lending financing from ADB.

ADB okays $3.8b funding support for infra, social services in Philippines

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ADB okays $3.8b funding support for infra, social services in Philippines

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