ADB approves $300-million loan to fund Philippines’ infrastructure projects

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Asian Development Bank (ADB)

THE ASIAN Development Bank (ADB) has approved a $300-million loan for the Philippines to fund a program that promotes the development of public-private partnership (PPP) projects.

The regional lender announced on Monday, Aug. 20, that it has approved the loan for the Expanding Private Participation in Infrastructure Program (EPPIP) subprogram 2.

The program aims to strengthen government financial support to PPPs, expand and efficiently implementing the pipeline of PPP projects, and strengthen the legal and regulatory frameworks for PPPs.

“The Philippines has made significant progress since the PPP program was launched in late 2010. With a huge project pipeline being rolled out under the BBB program of President Rodrigo Duterte, leveraging public resources via private sector participation remains relevant,” ADB Country Director for the Philippines Kelly Bird was quoted as saying. — Elijah Joseph C. Tubayan