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ADB sees PHL economy shrinking by 7.3% this year

THE Philippine economy is now expected to shrink by 7.3% this year as the pandemic drags on, while “developing Asia” is seen to contract for the first time since 1962, according to the Asian Development Bank (ADB).

‘Developing Asia’ to shrink for first time in nearly six decades...

MANILA — The coronavirus pandemic will cause economic output in “developing Asia” to shrink for the first time in nearly six decades in 2020...

Microgrids touted as priority area for funding by Asian Dev’t Bank

THE Asian Development Bank (ADB) must fund more community microgrid projects to energize more households in developing countries, a sustainability think-tank said.

ADB approves $500-million standby financing for local calamities

THE Asian Development Bank (ADB) said it approved Thursday a $500-million (P24.3 billion) standby line providing the Philippines quick access to emergency funds in the event of calamities.

ADB backs digital economy, carbon taxes to aid recovery

THE Asian Development Bank (ADB) said taxing the digital economy and carbon emissions hold the potential for funding a sustainable recovery.

ADB approves P6-billion loan for medical gear, protective equipment

THE Asian Development Bank (ADB) has approved a $125-million (P6 billion) loan to the Philippines for the procurement of medical equipment and personal protective equipment (PPE).

ADB urges Philippines to cut reliance on remittances

DEVELOPING COUNTRIES like the Philippines should look into sovereign wealth funds or “diaspora bond” issues to offset possible declines in remittances when major crises disrupt the overseas labor market, the Asian Development Bank (ADB) said.

ADB OK’s $400-M loan for PHL agricultural sector

THE Asian Development Bank (ADB) on Wednesday said it has approved a $400-million (P19.576-billion) loan to support Philippine government’s reforms that aim to improve competitiveness of the agriculture sector and reduce poverty in rural areas.

Pandemic to hit low, mid-level workers hard — ADB

THE pandemic will affect some parts of the labor market more severely, worsening conditions for the low and medium-skill segments just as employers are embarking on their digital transformations, the Asian Development Bank (ADB) said.

Pandemic could lower use of major urban transport projects — ADB

URBAN TRANSPORT projects in developing economies such as the Philippines are vulnerable to lower-than-planned usage rates due to the pandemic, upending their underlying financial assumptions and calling into question their viability, the Asian Development Bank (ADB) said in a report.

Paid sick leave will encourage workers to observe self-isolation

EMERGING MARKETS need to expand their paid sick leave policies to encourage workers to observe self-isolation rules in order to curb the spread of the coronavirus, according to the Asian Development Bank (ADB).

Wage subsidy extension sought as most firms face cash crunch

THE Philippine government should consider extending the wage subsidy program for small firms, the Asian Development Bank (ADB) said, after a survey showed more than half of businesses are facing a cash crunch amid the pandemic.

PHL, ADB sign $27-million loan to modernize LGUs

THE government and the Asian Development Bank (ADB) signed a $26.5-million (P1.4 billion) loan agreement earlier this month that will improve LGUs’ (local government units) capacity to generate revenue via digitized processes.

ADB to lend record $4.2B to PHL

THE Asian Development Bank (ADB) is extending a record $4.2 billion in loans to the Philippines this year, with projects to improve the healthcare system amid the pandemic and the construction of a pedestrian walkway along Metro Manila’s main thoroughfare still awaiting approval.

More than half of PHL firms uncertain of recovery: survey

MORE than half of companies in the Philippines are uncertain they can recover from the ongoing crisis, according to a survey on the impact of the coronavirus disease 2019 (COVID-19) on enterprises.

Asia-Pacific must set loftier electrification goals — ADB expert

THE Asia and Pacific region should set more aggressive targets for universal electricity access over the next decade, an energy sector expert from the Asian Development Bank (ADB) said.

ADB invests $10 million in private equity fund focused on PHL...

THE Asian Development Bank (ADB) has signed a $10-million equity investment agreement with Navegar II L.P. (Navegar II), which is focused on investing in Philippine mid-cap companies.

ADB grants PHL loan to improve property tax valuation, collection

THE Asian Development Bank (ADB) approved a $26.5-million (P1.32-billion) loan to help local governments generate more revenues by digitizing property tax valuation and collection.

Bond market expansion slows in first quarter

THE bond market expanded in the first quarter of 2020 but at a slower rate compared to a year earlier, with both government and corporate bonds posting growth, the Asian Development Bank (ADB) said.

ADB rated most transparent major aid agency

THE Asian Development Bank (ADB) said it was ranked the top major aid donor organization in terms of transparency by the Aid Transparency Index (ATI) report.

Angat aqueduct project going forward after ADB loan approval

PROJECT preparation for the Bigte-Novaliches Aqueduct 7, a delivery system for water supplied from Angat dam, will go forward after the recent approval of a $126.02-million loan by the Asian Development Bank (ADB), according to the corporate office of the Metropolitan Waterworks and Sewerage System (MWSS).

An epidemic of contaminated waste is following the coronavirus

The world is struggling to deal with the spread of another medical problem created by the coronavirus — a deluge of contaminated waste. During the...

Economy to shrink by 3.8% — ADB

THE Asian Development Bank’s (ADB) outlook for the Philippines has turned grim, as it now expects the economy to shrink by as much as 3.8% this year.

Philippines, ADB sign $500-M loan for 4Ps

THE Philippines signed the $500-million loan agreement with the Asian Development Bank (ADB) that will supplement the budget of the Pantawid Pamilyang Pilipino Program (4Ps), largely for disbursement in July.

ADB makes pitch for more clean energy investment in stimulus spending

THE Asian Development Bank (ADB) encouraged governments to include more investment in renewable energy in their economic recovery plans after the coronavirus disease 2019 (COVID-19) pandemic.

ADB 2020 lending to PHL at record $2.6B

THE Asian Development Bank’s (ADB) lending to the Philippines has hit a record $2.6 billion so far this year, exceeding the 2019 level of $2.5 billion.

ADB says spending no basis for judging effectiveness of government response

THE size of a government’s spending package is not a reliable indicator of how effective its response is to the pandemic, an advisor to a research office run by the Asian Development Bank (ADB) said.

ADB funding commitments for PHL among region’s largest

THE ASIAN Development Bank’s (ADB) funding commitments for the Philippines reached $4.57 billion in 2019, second highest among the bank’s developing member countries (DMCs) in Asia and the Pacific.

Southeast Asian COVID-19 measures at $243-B

SOUTHEAST Asian countries have rolled out$242.995 billion worth of measures in response to the coronavirus disease 2019 (COVID-19) outbreak, according to the Asian Development Bank (ADB).

ADB lends Philippines $1.5B to fight coronavirus

THE Asian Development Bank (ADB) has approved a record $1.5 billion loan for the Philippine government to fund its fight against the coronavirus disease 2019 (COVID-19).

PHL slowdown this year, but recovery likely in 2021 — ADB

THE Philippine economy is seen to significantly slow down this year, as the coronavirus (COVID-19) pandemic dampens domestic consumption and growth in trade and tourism, the Asian Development Bank (ADB) said on Friday.

Global cost of coronavirus may hit $4.1 trillion, ADB says

THE cost of the coronavirus pandemic could be as high as $4.1 trillion, or almost 5% of global gross domestic product, depending on the disease’s spread through Europe, the U.S. and other major economies, the Asian Development Bank said.

PHL to receive further $1.6-B from ADB

THE Asian Development Bank (ADB) said another funding package of at least $1.6 billion for the Philippines will be released in the coming weeks to help the government respond to the COVID-19 quarantine and to help affected industries.

PHL bond market’s growth slows in Q4 on maturities, lower issues

THE GROWTH of the Philippine bond market eased in the fourth quarter of 2019 after the stock of government bonds declined as some issues matured and amid lower issuances, according to an Asian Development Bank (ADB) report.

ADB sets up Clark office to support bank-funded projects in Central...

THE Asian Development Bank (ADB) said it set up a satellite office in Clark to support infrastructure projects it finances in Central Luzon.

Asian Development Bank launches ADB Ventures, investing in impact tech startups

The project will also be providing various forms of financial and technical assistance to startups aiming to address relevant global issues.

New ADB president assumes office

THE Asian and Development Bank (ADB) said its new President Masatsugu Asakawa assumed office on Friday.

ADB to help in drafting new water contracts, says Justice secretary

THE Asian Development Bank (ADB) will help as consultants in the drafting of the new contracts of Metro Manila’s water concessionaires, Justice Secretary Menardo I. Guevarra said.

PHL, ADB ink loan deals worth $623M

THE Philippine government, through the Department of Finance (DoF), and the Asian Development Bank (ADB) on Friday signed a total of $623 million worth of loans to finance feasibility studies for infrastructure projects, to further boost the competitive market and to provide more employment opportunities for the youth.

PHL bond market expands in Q3 even as gov’t issuances decline

THE PHILIPPINES remained to be the second fastest-growing bond in the third quarter in the emerging East Asia region, even as it expanded at a slower pace due to the government’s reduced borrowing program, an Asian Development Bank (ADB) report showed.

FIRe’s call for government, public sector to adapt and integrate

Winning together in the fourth industrial revolution By Adrian Paul B. Conoza,Special Features Writer The growing need to keep in step with the Fourth Industrial Revolution...

PHL bond market’s growth eases in Q2

THE PHILIPPINES was the second-fastest growing bond market in the second quarter among emerging East Asia region, even as expansion was at a “modest” pace amid slower government issuances, the Asian Development Bank (ADB) reported on Wednesday.

ADB’s technical support for PHL infrastructure at $77M

THE ASIAN Development Bank (ADB) has so far disbursed $76.79 million to support the Philippines in creating a pipeline of infrastructure projects that may be implemented by the next administration.

ADB raises P5.22B via peso bonds for PHL projects

THE ASIAN Development Bank (ADB) raised over P5 billion in local currency bonds offered to foreign investors, with the funds meant to support projects in the Philippines.

ADB, IFC invest in Ayala energy unit’s green bonds

AC Energy, Inc. has attracted two of the world’s biggest development lenders International Finance Corp. (IFC) and the Asian Development Bank (ADB) to the Ayala-led company’s multi-million dollar green bond offering that will fund regional renewable energy projects, company officials said.