ADB announces partnership strategy to assist Philippines
The Asian Development Bank (ADB) has launched a new six-year country partnership strategy designed to ensure that the Philippines' growth is sustained, inclusive, and resilient in the face of climate challenges.
Logo of the ADB. Photo courtesy of the bank.
Spanning from 2024 to 2029, the strategy will focus on addressing the country's critical development needs and bolstering support in key areas including human development, economic competitiveness and quality infrastructure, as well as nature-based development and disaster resilience, the Manila-based bank said in a Thursday press release.
ADB country director for the Philippines Pavit Ramachandran said this new strategy will further a flourishing collaboration to support the country in achieving a prosperous future that leaves no one behind, particularly as it faces the dual challenges of accelerating economic growth and addressing persistent poverty and income inequalities.
Accordingly, the ADB will also catalyze private sector-led development by supporting policy and regulatory reforms, strengthening markets and investment pipelines, and expanding funding availability.
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