The Philippines has committed to ensure the efficient and effective use of financial aids coming from the Asian Development Bank (ADB).
Addressing the 55th Annual Meeting of the Board of Governors of the ADB at the Edsa Shangri-la Hotel in Mandaluyong City yesterday, President President Marcos Jr. also said it is time for everyone to work together towards building a better normal and developing an economy that is “green, sustainable,” and “truly climate resilient and responsive to people’s immediate needs.”
The President acknowledged the institution’s role as a reliable body in providing loans, technical assistance, and equity investments to promote social and economic development.
Marcos also acknowledged ADB for being a steadfast partner in achieving the Philippines’ development goals such as the building of infrastructures and financing of social reform and community development programs.
The President assured ADB his government will ensure an efficient and effective utilization of the institution’s assistance to the Philippines and for the full benefit of all Filipinos.
Marcos said he also looks forward to having more discussions with ADB on various issues of interest not only for the Philippines but also for the rest of Asia and the Asia Pacific Region and forging partnerships that would help the country and region recover from the impact of the new coronavirus disease -19 (COVID-19) pandemic.
Marcos thanked ADB for its contributions in the country’s efforts to combat COVID-19 pandemic such as the $3- million grant for the purchase of medical supplies for frontline health workers.
“As President, I will assure the government’s relationship with the ADB can only grow stronger in the years to come, harnessing mutual cooperation to nurture development here in our country, together with our partners around the world and in the region,” he said.
He added: “While many things remain uncertain, one thing is for sure: We can no longer return to the way things were. It is time for us to work together to bring about an even Better Normal. I believe that at the heart of this goal is in the way that we must develop an economy that is green, that is sustainable, truly climate-resilient and responsive to people’s immediate needs.
It is an economy that takes into account the ecosystem from which we harness our resources,” he added.
On Tuesday, ADB announced plans for a $14-billion program to address the food crisis in the Asia-Pacific region which aims to improve long-term food security through existing and new projects in sectors such as farm inputs, food production, and distribution.
Achieving food security is one of the priorities of the Marcos government. Jocelyn Montemayor
