ADB approves 400 mln USD loan to support Philippines

The Asian Development Bank (ADB) said on May 26 that it has approved a 400 million USD loan to support the Philippine government's efforts to strengthen domestic capital markets and reach its development goals of high, sustained economic growth and poverty reduction.

Tuesday, May 26, 2020 21:11

Hanoi, (VNA) – The Asian Development Bank (ADB) said onMay 26 that it has approved a 400 million USD loan to support the Philippine government'sefforts to strengthen domestic capital markets and reach its development goalsof high, sustained economic growth and poverty reduction.

The lender said the Support to CapitalMarket-Generated Infrastructure Financing Programme, Subprogramme 1, aims toaddress key constraints that have limited the growth of domestic capitalmarkets, especially government and corporate bond markets.

The programme also focuses on building avibrant domestic institutional investor base.

According to the ADB, the developmentprogramme will support higher public infrastructure spending for years to come.

This new loan brings ADB'stotal lending to the Philippines to 2.1 billion USD so far this year, the bankadded./.

VNA

#Asian Development Bank #ADB loan to the Philippines #Vietnamplus #Vietnam News Agency #Support to Capital Market-Generated Infrastructure Financing Programme #the Philippines

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