The Philippine government is now identifying additional projects that will be included in the extended Country Operations Business Plan (COBP) of the Asian Development Bank (ADB).
The National Economic and Development Authority (Neda) told the BusinessMirror that the existing country partnership strategy (CPS) to be extended to 2023, will be submitted for ADB Board approval by end-August.
“As of date, the ADB pipeline is still as indicated in the Country Operations Business Plan for 2018 to 2020. The Country Programming Mission for 2018, which will update the pipeline for the 2019-2021 pipeline, will commence by mid-May,” Neda sources told
the BusinessMirror.
ADB Philippines Office Country Specialist Joven Balbosa earlier told the BusinessMirror that the Manila-based multilateral development bank is supporting efforts to address this through the Regional Development Project for South Central Mindanao and the upcoming COBP.
In December 2017 the NEDA identified the $100-million Regional Development Project, Phase 1-South Central Mindanao, formerly Mindanao Development Program, as part of the pipeline for ADB financing this year.
Balbosa said the new COBP will focus on regional development, consistent with the aim of the national government to pursue federalism.
“[This is] anchored on the PDP [Philippine Development Plan] National Spatial Strategy and the new CPS now under preparation which emphasized regional development as one of its key programs,” Balbosa said via SMS.
He added in the briefing that the ADB is working together with local governments, particularly lagging regions, to help match them with leading regions which can help them increase investments in their locale.
The indicative resources available for commitment by ADB during 2018-2020 for sovereign operations amount to $2.56 billion.
The ADB said it will actively explore cofinancing and funding from other sources, including regular OCR regional cooperation and integration set-aside. An indicative sovereign lending program of $3.68 billion is 43.8 percent higher than indicative resources.
During 2018-2020, the ADB also expects to deliver technical assistance (TA) worth $25.1 million, to be financed from internal and other financing sources.
The ADB’s ongoing program for 2017 consists of four loans totaling $1.08 billion, and TA of $7.5 million from internal sources, $7.5 million from Canada and $225,000 from the Urban Climate Change and Resilience Trust Fund.
Apart from the Regional Development Project for South Central Mindanao, the pipeline for 2018 includes financing projects, such as the Expanding Private Participation in Infrastructure Program Subprogram 2 (PBL) and the Inclusive Finance Development Program (PBL), formerly known as the Reducing Income Inequality, through Financial Inclusion worth $300 million each.
Big-ticket projects for this year also include the $110-million Davao Public Transport Modernization Project and the $100-million Metro Manila Transport Project, formerly Metro Manila BRT Edsa Project.
For 2018 there are also standby projects, namely, the $300-million Secondary Education Support Project and the $100-million Disaster Risk Financing Phase 1.
For 2019, the firm pipeline of projects include the Secondary Education Support Project; Local Government Development Program; and Facilitating Youth School-toWork Transition, Subprogram 2, which will cost $300 million each.
Also included in this pipeline are the $200-million Metro Manila Water Supply Project, Phase 1 and $200-million Malolos-Clark Railway Project as well as the $100-million Disaster Risk Financing Phase 1.
For 2020, the firm pipeline includes Improving Growth Corridors in Mindanao Road Sector Project, Phase 2; Inclusive Finance Development Program, Subprogram 2; and Expanded Social Assistance Project, which will cost $300 million each.
The standby pipeline for 2020 includes the $300-million Metro Manila Transport Project; $200-million Regional Development Project, Phase 2-Northern Mindanao; and $100 million Disaster Risk Financing Phase 2.