Marcos vows efficient and effective use of ADB’s financial assistance

Joyce Balancio, ABS-CBN News

Posted at Sep 29 2022 04:52 PM

Screengrab from RTVM 
Screengrab from RTVM 

MANILA - President Ferdinand Marcos, Jr. on Thursday told the Board of Governors of the Asian Development Bank (ADB) that the government would utilize effectively and efficiently the assistance it provides to the Philippines.

Speaking before the 55th Annual Meeting of the Board of Governors of the ADB in a hotel in Mandaluyong City, Marcos highlighted how the country’s partnership with ADB has helped the Philippines through the years.

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“As President, it is certainly my duty to ensure that the government remains committed in the efficient and effective utilization of this institution's assistance for the full benefit of all Filipinos,” he added.

Marcos also noted the ADB’s assistance when the country was just beginning to face the challenge of the pandemic. He said it was among the first institutions to help the country with the grant of $3 million for medical supplies. 

“We also recognize ADB for allowing us to access the CARES program, a quick disbursing budget support facility to aid countries in mitigating the severe economic shocks caused by the pandemic,” he also said.

The President hoped that the Philippines and the ADB would continue working together as the whole world recovers from the effect of global pandemic of COVID-19. 

“As President, I will assure that the government's relationship with the ADB can only grow stronger in the years to come, harnessing mutual cooperation to nurture development here in our country together with our partners around the world and in the region," he said.