ADB loan to help boost LGU operations

MANILA-based Asian Development Bank (ADB) said in a statement it has committed to lend the government $300 million through the Local Governance Reform Program (LGRP) subprogram 1 to support local government units (LGUs) nationwide in improving their services, strengthen the local economy and substantially reduce poverty.

“ADB supports the Philippine government’s goal of creating a high-trust society, where citizens have confidence in the capacity of local government institutions to deliver services to communities and provide a simpler business environment for private enterprises,” Jose Antonio Tan 3rd, director for Public Management, Financial Sector, and Trade at ADB’s Southeast Asia Regional Department, was quoted as saying in the statement. He added, “a healthy business environment will lead to more jobs and strengthen the local economy.”