PHL eyeing $1.39B in loans from ADB
MANILA – The Aquino administration plans to propose a higher loan assistance from the Asian Development Bank (ADB) to finance water and power projects for the next two years, the National Economic and Development Authority (NEDA) said.
Documents from NEDA showed that the indicative assistance pipeline for ADB lending next year amounted to $1.39 billion, higher from this year’s $969 million.
Projects to be financed by ADB next year are the $50 million Water Development Project; $41 million, Philippine Solid Waste Management Sector Project; $100 million, Comprehensive/Integrated Development for Agusan River Basin Project and 80 million, Infrastructure of Rural Productivity Project Phase 2.
Other projects that identified next year are the $100-million MFF Climate Change Investment Program; $70-million Metro Cebu Water Supply Project; $ 200-million Power Distribution Reform Program; $100-million Manila East Sanitation Improvement Project; $100-million Manila West Sanitation Improvement Project; $300-million Justice Reform Program and $250-million Investment Climate Program.
For 2012, the indicative loan assistance amounted to $ 1.35 billion.
These are the $ 100-million Rural Infrastructure Development Project; $100-million Integrated Coastal Resource Management Project II; $200-million Southern Philippines Secondary Education Project; $100-million Mindanao River Basin; $100-million Power Sector Investment Project; $100-million Davao City Water Project; $350-million Power Sector Development Program and $300-million Local Government Finance and Budget Reform Program Phase 2.
In 2009, the Philippines, among Southeast Asian countries, was the third-largest recipient of loan assistance from ADB to counter the world economic slowdown.
Manila received $1.18 billion in ADB loans last year from $820 million in 2008.
The top recipient of ADB assistance in 2009 was Indonesia with $2.18 billion from $ 1.09 billion in 2008. Jakarta was followed by Vietnam with $1.93 million in 2009 from $ 789.7 million in 2008.
ADB said it had helped the government mitigate impact of the global financial meltdown through policy-based operations and a $500-million Counter Cyclical Support Facility loan.
It added it also had helped promote energy efficiency and healthcare, particularly for mothers and children.
ADB provided a $3-million grant under the Asia Pacific Disaster Response Fund to help Filipinos affected by Typhoon Ondoy, which devastated Metro Manila in 2009.*PNA
