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The Asian Development Bank will provide a US$200 million loan to the Philippines to support climate-resilient infrastructure. The loan will be used to build climate-resilient roads, bridges, transport and flood risk management projects, identified as flagship projects by the government.
ADB will assist the Philippine Department of Transportation and the Department of Public Works and Highways in implementing complex infrastructure projects to support its sustainable and high-growth economic development. ADB has committed $8.4 billion in financing for transportation projects, including the Malolos Clark Rail and Southern Commuter Rail projects. This reflects ADB’s commitment to increasing public infrastructure spending in the Philippines to promote sustainable development.
(Source: abs-cbn Image source: freepik)
