Manila – The Asian Development Bank (ADB) has approved a $200 million loan to support the Philippines in developing high-quality, inclusive, climate-resilient, and low-carbon infrastructure.
According to Philippines News Agency, this funding is part of the second additional financing for the Infrastructure Preparation and Innovation Facility (IPIF). The loan will aid in the preparation of vital climate-resilient infrastructure projects, including roads, bridges, transport systems, and flood risk management. This initiative is aligned with the Philippines’ commitment to climate change adaptation and its national priorities. ADB senior transport specialist Daisuke Mizusawa highlighted that this additional financing aims to enhance the scope, readiness, and quality of public infrastructure projects in the Philippines. The ADB will also assist in capacity building for implementing agencies like the Department of Transportation and the Department of Public Works and Highways. A supplementary technical assistance grant of USD1.5 million will support policy strengthening, investment planning for climate-resilient infrastructure, and the development of methodologies to mitigate climate risks in infrastru
cture projects.
