PROJECTS approved by the Asian Development Bank (ADB) in the first three years of the Duterte administration nearly doubled compared to those approved in the previous administration.
Data available on the ADB web site showed over $7 billion or P371 billion worth of projects and programs to be financed by loans and grants were approved from the time the Duterte administration assumed office in 2016 until December 2019.
The estimate does not yet include projects approved by ADB that were meant to be implemented regionally and/or in multiple countries, including the Philippines.
In previous administration, the projects and programs approved by ADB only amounted to over $4 billion or around P220 billion between July 2010 and December 2013.
The biggest project approved under the Duterte administration is the Malolos-Clark Railway Project—at $4.69 billion, the ADB’s largest undertaking in the country.
Under the previous administration, the largest projects approved were the Social Protection Support Project worth $801.1 million and three projects focused on the recovery and rehabilitation of areas affected by Supertyphoon Yolanda, $503.89 million.
The ADB has indicated it intends to increase project financing for the country. This has already been observed in the ADB’s new Country Operations Business Plan 2020-2022.
Based on the plan, ADB’s lending and non-lending program for the Philippines could reach $10.67 billion or P554.89 billion between 2020 and 2022.
The amount includes financing for firm and standby pipeline of projects to be funded by lending, as well as various forms of technical assistance to be extended in the next three years.
On top of the projects solely intended for the Philippines, the ADB has also included the country in 16 regional technical assistance projects which are expected to amount to $60.5 million in the next three years.