President Ferdinand Marcos Jr. hailed this multi-year funding commitment as a vote of confidence in the country’s growth potential.
“We must turn this generous backing into meaningful outcomes–better social services, improved infrastructure, and a more resilient economy. With this partnership, we have a unique opportunity to redefine what is possible and set a new standard for excellence and inclusivity,” Marcos said at the launching and ceremonial turnover of the Asian Development Bank Philippines Country Partnership Strategy (CPS) 2024-2029 in Malacañang.
The ADB’s proposed lending program for 2024-2027 is composed of 28 new programs and project loans amounting to $12.4 billion, averaging $4.13 billion per year.
The ADB CPS for 2024-2029 will focus on three key areas: strengthening human development, boosting economic competitiveness and quality infrastructure; and sustaining natural resources and ecosystems while enhancing disaster resilience.
