ADB lending $200 million to PH for climate infra | ABS-CBN
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ADB lending $200 million to PH for climate infra
ADB lending $200 million to PH for climate infra
ABS-CBN News
Published Dec 08, 2023 11:54 AM PHT
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Updated Dec 08, 2023 04:33 PM PHT
MANILA - The Asian Development Bank is lending the Philippines $200 million or around P110 billion to support the country’s efforts to develop climate-resilient infrastructure.
MANILA - The Asian Development Bank is lending the Philippines $200 million or around P110 billion to support the country’s efforts to develop climate-resilient infrastructure.
The multilateral lender said the loan will be used to further support the Philippines 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 multilateral lender said the loan will be used to further support the Philippines 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 Philippines has raised its public infrastructure spending in recent years to steer the economy toward a sustainable, high-growth path,” said ADB Senior Transport Specialist Daisuke Mizusawa.
“The Philippines has raised its public infrastructure spending in recent years to steer the economy toward a sustainable, high-growth path,” said ADB Senior Transport Specialist Daisuke Mizusawa.
ADB said it will assist in the Department of Transportation and the Department of Public Works and Highways in implementing large and complex infrastructure projects.
ADB said it will assist in the Department of Transportation and the Department of Public Works and Highways in implementing large and complex infrastructure projects.
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The Japan-backed multilateral lender has committed financing of $8.4 billion for transport projects, including the Malolos Clark Railway Project and the South Commuter Railway Project.
The Japan-backed multilateral lender has committed financing of $8.4 billion for transport projects, including the Malolos Clark Railway Project and the South Commuter Railway Project.
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