Manila, Dec 13 (IANS) The Asian Development Bank (ADB) said Friday it has approved a 30-million-US dollar loan to support public-private partnership (PPP) projects in the Philippines and help the country strengthen infrastructure development, advance climate action, and enhance economic competitiveness.
The ADB said the loan will replenish the Project Development and Monitoring Facility managed by the government’s Public-Private Partnership Centre to support the design and implementation of bankable PPP projects.
It will also help enhance the capacity of implementing agencies and local government units to develop and manage these projects, added the bank, Xinhua news agency reported.
The loan is expected to support up to 35 national and local PPP projects from 2025 to 2029. All projects will undergo climate risk screening and management to ensure alignment with the Philippines’ nationally determined contribution.
These projects promise to improve railways, roads, transport networks, and essential community facilities.
“The Philippines is considered one of the leaders in Asia and the Pacific region in using PPPs as a modality for addressing infrastructure gaps and pursuing sustainable growth and development,” ADB Philippines Country Director Pavit Ramachandran said.
On Wednesday, the ADB had approved a 500-million-US dollar policy-based loan to help the Philippines pursue its public financial management (PFM) reform agenda and ensure quality public services for the Filipino people.
The Public Financial Management Reform Programme (Subprogramme 1) promises to improve national budget frameworks, empower local governments, and establish a PFM system in the Bangsamoro Autonomous Region in Muslim Mindanao in the southern Philippines.
The ADB said the new programme promotes the fair and practical devolution of public services under the archipelago’s Mandanas ruling and fosters local investments in climate resilience and disaster preparedness.
The Mandanas ruling mandates that all national taxes and other taxes and fees collected by the national government be considered in computing revenue allotments to local government units.
The program also vows to support the Bangsamoro government’s PFM systems, including local governance, budgeting, and revenue frameworks.
As part of the programme, the ADB, the Public Expenditure and Financial Accountability (PEFA) Secretariat, and other development partners will conduct the PEFA Assessment to guide the country’s PFM reform pathway.
–IANS
int/as
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