MANILA, Dec. 13 (Xinhua) -- The Asian Development Bank (ADB) said Friday it has approved a 30-million-U.S. dollar loan to support public-private partnership (PPP) projects in the Philippines and help the country strengthen infrastructure development, advance climate action, and enhance economic competitiveness.
The ADB said the loan will replenish the Project Development and Monitoring Facility managed by the government's Public-Private Partnership Center to support the design and implementation of bankable PPP projects.
It will also help enhance the capacity of implementing agencies and local government units to develop and manage these projects, added the bank.
The loan is expected to support up to 35 national and local PPP projects from 2025 to 2029. All projects will undergo climate risk screening and management to ensure alignment with the Philippines' nationally determined contribution.
These projects promise to improve railways, roads, transport networks, and essential community facilities.
"The Philippines is considered one of the leaders in Asia and the Pacific region in using PPPs as a modality for addressing infrastructure gaps and pursuing sustainable growth and development," ADB Philippines Country Director Pavit Ramachandran said. ■
