ADB sovereign loans to PHL to hit $24 billion

Quick Summary:

THE Asian Development Bank (ADB) said the country’s sovereign lending program could reach $24 billion until 2029 to finance various projects and programs that promote inclusive growth and climate resilience nationwide.

In the latest Country Partnership Strategy (CPS), ADB said the amount could be higher depending on the national government’s demand and the availability of funding through its Ordinary Capital Resource (OCR).

As the region’s climate bank and building on ongoing deep dialogue with the government on climate policy reform, ADB will work to embed climate actions across its engagements and investment plans in the country.

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Article Details

Author / Journalist: Cai U. Ordinario

Category: BusinessStartups

Markets: Philippines

Topics: Development Growth Government Infrastructure Investment Promote Philippines Climate Sovereign Country Bank

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-05 @ 16:08:00 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 658 words

Reading Time: 4 minutes read

Sentences: 23 lines

Sentence Length: 29 words per sentence (average)

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Copyright Owner: © Business Mirror

News ID: 22377982

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