Connect with us

Hi, what are you looking for?


ADB financial assistance to PHL hits $3B in 2022


THE ASIAN Development Bank (ADB) extended $3 billion in financial assistance to the Philippines in 2022, the fifth highest in the region.

The multilateral lender’s commitments to the Philippines, which consist of loans, grants, and co-financing programs, rose by 7.3% to $2.995 billion last year from $2.791 billion in 2021, according to the latest ADB annual report released on Monday.

Pakistan received the biggest financial assistance from the ADB with $5.58 billion, followed by Bangladesh ($3.93 billion), India ($3.12 billion) and Vietnam ($3.09 billion).

Low-interest loans approved for the Philippines reached $2.55 billion, the second highest in the region after Pakistan with $3.4 billion.

The ADB’s approved loans include the first tranche of the South Commuter Railway, support for subprogram 2 of the Capital Market-Generated Infrastructure Financing Program, support for the Philippine Technical and Vocational Education and Training System, and subprogram 1 of the Climate Change Action Program.

The Philippines received $423.9 million for co-financing projects and $9.9 million for technical assistance from the ADB last year.

The ADB said it is focusing on supporting climate action in the Philippines, which is one of the most climate-vulnerable countries in the world.

“Under the program, ADB is helping the Philippines develop, deliver, and finance a holistic approach to address climate change by transitioning to low-carbon pathways, strengthening the country’s ability to adapt to climate change, and increasing conservation of land and marine resources,” it said.

Last year, the ADB provided its first climate change policy-based loan to the Philippines.

“In 2022, ADB provided a $250-million loan, along with $171.7 million in co-financing, to support the Government of the Philippines in implementing its national climate policies, achieving its commitments under the Paris Agreement, and delivering on its broader climate ambitions,” it added.

This year, the ADB’s lending program for the Philippines is set at $4 billion, which consists of eight projects and programs.

“Our support in 2022 helped our developing member countries navigate the immediate impact of these crises while bolstering their longer-term resilience in critical areas such as climate change and food security,” ADB President Masatsugu Asakawa said in a statement. — Keisha B. Ta-asan

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



The rapid advancement of digital technologies has gained momentum to a degree that it transformed almost every aspect of modern life. From enhanced and...


Massive construction activities that are ongoing and upcoming across Eastern, Central, and Western Visayas are further driving demand in the region’s construction industry this...


Amidst the picturesque Dole pineapple plantation, SATNET powered by Kacific bridges the connectivity gap. Have you ever wondered how a leading, remote food processing...


US dollar banknotes are seen in this illustration taken July 17, 2022. — REUTERS By Keisha B. Ta-asan, Reporter PHILIPPINE DOLLAR reserves slipped at...


PHILIPPINE STAR/MICHAEL VARCAS By Luisa Maria Jacinta C. Jocson, Reporter THE PHILIPPINE ECONOMY is likely to grow by 6% this year amid strong domestic...


By Kyle Aristophere T. Atienza, Reporter ECONOMISTS are worried about the alleged failure of Philippine lawmakers to take into account the health of state-owned...

You May Also Like


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.