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Gov’t seeks $325-M loan for vaccines

THE government is seeking a $325-million (P15.63 billion) loan from the Asian Development Bank (ADB) to purchase coronavirus disease 2019 (COVID-19) vaccines, ADB Country Director for the Philippines Kelly Bird said on Monday.

PHL lost 2.1 million jobs this year — ADB

THE Asian Development Bank (ADB) estimated at least two million Filipino workers may have lost their jobs by the end of the year as the pandemic continued, with the steepest drop in employment seen in services sector that depend heavily on tourism.

Paid sick leave touted for pandemic relief

EXPANDING paid sick leave (PSL) to encourage self-isolation could be an effective strategy for containing coronavirus disease and will likely be less costly overall than lockdowns, the Asian Development Bank (ADB) said.

ADB to extend up to $9.4-B loans to PHL in next...

THE ASIAN Development Bank (ADB) on Wednesday said it is looking to extend up to $9.4 billion in loans to the Philippines between 2021 and 2023 to support the economic recovery through infrastructure, health, and employment programs.

EDSA walkway project to start in Jan.

THE Asian Development Bank (ADB) has greenlit a $123-million (P5.9-billion) loan to the Philippines to build elevated walkways along the traffic-clogged Epifanio de los Santos Avenue (EDSA). 

Philippines to be SE Asia’s worst performer this year

THE PHILIPPINES is seen to post the worst economic performance in Southeast Asia this year, according to the Asian Development Bank (ADB) which slashed its growth forecast anew as household consumption and investments remained sluggish amid the coronavirus pandemic.

Lost regional economic output projected at $322.2 billion in 2021

SOUTHEAST ASIA could lose up to $322.2 billion in economic output next year due to the continuing fallout from the pandemic, with the Philippines among the leading losers in the tourism and services industries, the Asian Development Bank (ADB) said.

Jobless rate seen to remain high until mid-2021

THE COUNTRY’S unemployment rate will likely remain at around 9-10%, roughly double its pre-pandemic level, until mid-2021, Asian Development Bank (ADB) Country Director for the Philippines Kelly Bird said.

Gov’t borrowing to fund pandemic expenses driving bond market

BOND MARKET growth accelerated in the third quarter to meet government demand for funds to finance its coronavirus disease 2019 (COVID-19) containment efforts, the Asian Development Bank (ADB) said Wednesday.

ADB study points to favorable outcomes for tricycle drivers borrowing from...

TRICYCLE DRIVERS that availed of loans from financial technology (fintech) companies en route to owning their vehicles improved their earnings considerably despite working fewer hours compared to those that did not take out loans, according to a survey by the Asian Development Bank (ADB).

ADB to offer technical assistance for vaccine distribution effort

THE Asian Development Bank (ADB) said it has a technical assistance fund of $20.3 million to help its member countries organize the distribution of coronavirus disease 2019 (COVID-19) vaccines once these are available sometime next year.

Wellness touted as potential economic growth driver

INVESTING IN WELLNESS holds the potential to boost Asian economies by eliciting more productivity from healthier workers, according to an Asian Development Bank (ADB) economist.

ADB says bridging digital divide key to recovery

THE Asian Development Bank (ADB) said closing the digital divide and infrastructure gap in developing Southeast Asia will help ensure their recovery from the pandemic.

Philippines may tap support from ADB, World Bank to finance free...

THE GOVERNMENT may enlist the support of the Asian Development Bank (ADB) and the World Bank to finance a free coronavirus vaccination program next year.

Higher traffic linked to rising virus tally

PEOPLE in Philippine cities have moved more freely after lockdown restrictions were eased, matching a fresh surge in coronavirus infections, according to an Asian Development Bank (ADB) blog.

Vocational graduates post top hiring rates in ADB study

HIGH SCHOOL GRADUATES with additional technical or vocational training posted higher rates of hiring than those who only finished secondary school or entered college, according to a study by the Asian Development Bank (ADB).

Financing crunch looms for Southeast Asian infrastructure — ADB

SOUTHEAST ASIA had a sizeable financing gap for its infrastructure needs even before the pandemic and may need to find alternatives to ensure a recovery along sustainable lines, according to the Asian Development Bank (ADB).

Southeast Asia to reap dividends from expansion of digital space: ADB

SOUTHEAST ASIA is among the regions seen to gain the most in the expected surge in the digital space, the Asian Development Bank (ADB) said, but this would require huge investments and good management of risks.

Countries told to start vaccine delivery planning

COUNTRIES such as the Philippines should start planning now to deliver coronavirus vaccines to ensure faster recovery from the health and economic impacts of the pandemic, according to the Asian Development Bank (ADB).

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.