MANILA -- The Philippine government is seeking further support from the Asian Development Bank (ADB) to advance its infrastructure program, especially for projects that will address Metro Manila's traffic problem, which it says is key to creating jobs and reducing poverty.
During the institutional event at the 51st ADB annual meeting here Thursday, Socioeconomic Planning Secretary Ernesto Pernia said the Bank has realigned its emphasis to infrastructure development which is in line with the incumbent administration’s “Build, Build, Build” program.
He noted there are 12 major infrastructure projects in the pipeline worth USD4.44 billion under the transportation, water utilities and urban infrastructure sub-sectors, or about 65 percent of the total ADB lending portfolio to the Philippines.
Pernia said the ADB is also providing the country USD100-million soft loan for project preparation and facilitation.
“The infrastructure needs of the region are really huge. They cannot be satisfied by ADB or World Bank or AIIB (Asian Infrastructure Investment Bank), it really has to be a lot more money going into infrastructure and the Philippines is one major example of the kinds of infrastructure requirements that are begging for attention,” he later told reporters.
The Duterte administration’s “Build, Build, Build” infrastructure program is expected to spend some PHP8 trillion over the next five years.
“Many things can be facilitated by infrastructure --mobility of people, connectivity and then access to opportunities. Poverty reduction is greatly helped by infrastructure, employment generation,” he added.
Apart from progressively narrowing the country’s huge infrastructure gap, Pernia, also National Economic and Development Authority Director General, also asked ADB support in managing population growth, improving higher education and healthcare, and promoting science and technology and innovation. (PNA)
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