PHL, ADB ink MoU for 2019-2021 ready

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Asian Development Bank (ADB) "title =" Asian Development Bank (ADB) "/> </div> </p></div> <p> GOVERNMENT and Asian Development Bank (ADB) Signed Memorandum of Understanding on June 29 for regional lender $ 7.1 billion sovereign lending program in the Philippines for 2019-2021 </p> <p> In a statement released yesterday, the AfDB said the lending program will particularly support the country's infrastructure program. The current administration, with two-thirds of funding – about $ 4.5 billion – to projects that "connect regions and communities and manage urbanization, such as railways, bridges, roads and flood management. "</p> <p> " AfDB is committed to working closely with the Philippine government. "Kelly Bird, ADB Director for the Philippines, said after the signing ceremony </p> <p> the meeting between the & # 39; National Authority of the Ministry of Finance and ADB last month when it presented the program of & # 39; borrowing. </p> <p> Approximately $ 945 million is being allocated this year, including two $ 600 million, $ 300 million in results-based loans and $ 45 million in projects. </p> <p> "I am very pleased with this program," said Ernesto M. Pernia, Secretary for Socio-Economic Planning of the AfDB, in his remarks at the ceremony </p> <p> "ADB has been very cooperative economic growth and achieving inclusive development will help us move closer to our longer-term vision of a prosperous, middle-income country where no one is poor by 2040. "</p> <p> She has Also quoted is Maria Edita Z. Tan, Assistant Secretary of Finance, saying "The AfDB has been a very responsive partner." </p> <p> "When we asked them to consider co-financing some of the major infrastructure projects under the BBB program (Build, Build, Build)," she said. "The AfDB immediately rose to the challenge." </p> <p> The government plans to spend more than 8 billion Pound on infrastructure until 2022, when President Rodrigo R. Duterte ends his six-year term to accelerate economic growth. 8% annually until 2022 of 6.3% in 2010-2016 as well as the unemployment rate of 3-5% in the last year of this government 5.5% in 2016 and the incidence of poverty at 14% of 21.6% in 2016.- <b> EJCT </b></p> <footer> </footer></div> </pre> </pre> [ad_2] <br /><a href=Source link

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