April 14, 2024

The Asian Development Bank (ADB) has approved a USD200 million loan to help the Philippines build high-quality, inclusive, climate-resilient, and low-carbon infrastructure.

In a statement, the ADB said the second additional financing for the Infrastructure Preparation and Innovation Facility (IPIF) will support the preparation of complex and critical climate-resilient road, bridge, transport, and flood risk management projects identified by the government as flagship projects.

The loan will also help accelerate early project implementation through feasibility studies and detailed engineering design that embeds climate-resilient features to support the Philippines in achieving its climate commitments and national adaptation priorities.

“The Philippines has raised its public infrastructure spending in recent years to steer the economy toward a sustainable, high-growth path,” ADB senior transport specialist Daisuke Mizusawa said.

“With this additional financing, we aim to help the government scale up the scope of its investments, further improve the readiness and quality of public infrastructure projects, and strengthen public investment management systems,” Mizusawa added.

The ADB said it will help in building up the capacity of implementing agencies such as the Department of Transportation and the Department of Public Works and Highways to implement large and complex infrastructure projects. A USD1.5M technical assistance grant will support the strengthening of regulations and policies and enhance investment planning for low-carbon and climate-resilient infrastructure, and the development of frameworks and methodologies to consistently identify and mitigate climate risks in infrastructure projects. – PNA