The Asian Development Bank (ADB) has committed 636 public sector loans, grants and technical assistance to the Philippines with a cumulative value of $34.3 billion as of end-December 2023.
According to the ADB’s latest fact sheet on the Philippines posted on its website, the bank’s current sovereign portfolio in the country, which consists of ADB-financed loans, grants, equity investment and sovereign guarantee committed and not financially closed, includes 26 loans worth $10.12 billion.
Meanwhile, cumulative sovereign and non-sovereign loan and grant disbursements to the Philippines amount to $26.21 billion.
These were financed by regular and concessional ordinary capital resources and other special funds, the multilateral agency said.
Total outstanding balances and undisbursed commitments of ADB’s non-sovereign transactions in the Philippines as of end-December stood at $244.8 million, representing 2.07 percent of ADB’s total private sector portfolio.
In terms of operational challenges, the Manila-based institution said government agencies’ capacity to implement large and complex projects needs to be strengthened.
“Through loans, grants and technical assistance, ADB is helping build public sector capacity in project management and administration as well as financial accounting and reporting,” the bank said.
ADB said it is working closely with the government to enhance the technical and institutional capacities of national and local agencies and staff; improve interagency coordination; and strengthen partnerships among the government, private sector and development partners.
