ADB approves six-year PH partnership strategy

The Asian Development Bank (ADB) has approved a new six-year country partnership strategy with the Philippines, a development described by government officials as an affirmation of the Duterte government’s ambitious infrastructure program and inclusive growth goal.

In a statement, the Manila-based ADB said it expected to lend an estimated $7.8 billion beginning this year to 2021, an amount it called the “highest for any four-year period.” The annual average of nearly $2 billion, it also noted, “doubles the current estimated yearly lending pipeline.”