ADB okays $200M for PH infrastructure

THE Asian Development Bank (ADB) has given the green light for a $200 million loan to further assist the Philippines in developing climate-resilient and environmentally friendly public infrastructure.

The Manila-based lender said the funds would contribute to enhancing economic growth and access to employment, markets, as well as public services like education and health care.

«The second additional financing for the Infrastructure Preparation and Innovation Facility (IPIF) will support the preparation of complex and critical climate-resilient road, bridge, transport and flood risk management projects identified by the government as flagship projects,» the ADB said in a statement on Friday.

The loan is intended to expedite the early stages of project implementation by incorporating climate-resilient features into feasibility studies and detailed engineering designs.

This aims to assist the Philippines in fulfilling its climate commitments and addressing national adaptation priorities, the Manila-based lender said.

«The Philippines has raised its public infrastructure spending in recent years to steer the economy toward a sustainable, high-growth path,» ADB senior transport specialist Daisuke Mizusawa said in the statement.

«With this additional financing, we aim to help the government scale up the scope of its investments, further improve the readiness and quality of public infrastructure projects, and strengthen public investment management systems,» he added.

The ADB said it would assist in building up the capacity of implementing agencies such as the Department of Transportation and the Department of Public Works and Highways to implement large and complex infrastructure projects.

A $1.5 million grant will help improve regulations, policies, and investment planning for eco-friendly and climate-resilient infrastructure. It will also aid in developing methods to consistently identify and address climate risks in infrastructure projects.

The ADB said that prior assistance through the IPIF had played a crucial role in preparing over $40 billion in ongoing and planned infrastructure investments, surpassing initial estimates. These investments were funded by the ADB,