The On 27 November 2017, the ADB Board

The
ADB has been a strong partner in the development of the Philippines, which is
its host country. Since 1966, when its headquarters was established in Ortigas,
Metro Manila, ADB has been one of the country’s largest sources of official
development assistance, averaging on a annual lending of $745 million in the
past 10 years.

The
Philippines, being one of the rapidly growing economies in Southeast Asia, is
complimented by low inflation rates, an impressive fiscal performance, and a solid
external balance of goods and services. The current administration, which took
office in June 2016, promised the strengthening of the country’s peace and
security while building a stronger economy in which the poor and
under-privileged is not left behind as its priorities.

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As of
April 2015, ADB has successfully expended the $500 million Emergency Assistance
for the victims of Typhoon Haiyan. Efforts are now being concentrated to the reconstruction
of infrastructure and the creation of livelihood programs and social welfare
and services.

As of
31 December 2016, the total active lending portfolio for the country amounted
to $3.27 billion. The education sector has the largest share of the portfolio
at 45%, followed by public sector management 
at 17%, and the energy sector at 12%.

On 27
November 2017, the ADB Board of Directors approved a $300 million loan and
$500,000 technical grant to support the government  in developing the domestic market to finance
the building of infrastructure. The Philippine Development Plan, or the
“Build, Build, Build” program, is the keystone of the incumbent  administration. It calls for the public
spending on infrastructure to increase the country’s GDP to 7.4% by 2022 from
its current level of 5.1%. The Future of ADB assistance to the Philippines will
be closely aligned with the long-term development vision for 2040, also known
as “Ambisyon Natin 2040.”