The Asian Development Bank (ADB) has committed to lend $4.22 billion to the Philippines for development and infrastructure programs and extend technical assistance valued at $9.3 million until 2019.
The multilateral fund’s new country operations and business plan (COBP) for the Philippines is aimed at helping the country achieve more inclusive growth and address income inequalities and regional disparities.
Specifically, it will focus on four areas: sustainable and climate-resilient infrastructure, good governance and finance, inclusive employment and education, and regional integration.
Out of the total climate-adjusted investment needs from 2016 to 2030, $14.7 trillion is seen to be needed for power while $8.4 trillion is required for transport. Investments needed in telecommunications are seen to reach $2.3 trillion while needs for water and sanitation infrastructure are placed at $800 billion.
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