asian development bank - updates

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Duterte's infrastructure push gets $400-million boost from ADB loan

May 26, 2020 - 4:20 PM

This new loan brings the Asian Development Bank's total lending to the Philippines to $2.1 billion so far in 2020

Coronavirus could cost global economy $8.8 trillion – ADB

May 15, 2020 - 7:15 PM

$8.8 trillion would be equivalent to 9.7% of global gross domestic product

Migrant passengers from Sikkim state wait for transportation after they arrived from Chennai at New Jalpaiguri railway station, following the easing of the nationwide lockdown imposed as a preventive measure against the COVID-19 coronavirus, on the outskirts of Siliguri on May 14, 2020. (Photo by DIPTENDU DUTTA / AFP)

ADB eyes another $125-million project to strengthen PH health care during pandemic

May 11, 2020 - 7:06 PM

If approved, the project will provide funds for 2 new labs, training of lab technicians, and construction of isolation wards

INCREASE TESTING. Philippine Coast Guard medical technologists prepare to test possible COVID-19 patients at a newly installed swabbing center at the Palacio de Maynila tent along Roxas Boulevard in Manila on May 5, 2020. Photo by Ben Nabong/Rappler

ADB loans Philippines $200 million for coronavirus cash subsidies

Apr 27, 2020 - 7:55 PM

The latest loan from the Asian Development Bank will be used to provide cash subsidies for 4Ps beneficiaries affected by the coronavirus crisis

'Largest budget support ever': ADB lends PH $1.5 billion vs coronavirus

Apr 24, 2020 - 11:35 AM

Finance Secretary Carlos Dominguez III says the loan will help fund programs to defeat COVID-19 and bridge the higher deficit requirement estimated at P990 billion

ADB announces $20-billion coronavirus rescue package

Apr 13, 2020 - 7:15 PM

The Asian Development Bank triples the size of its response to the coronavirus pandemic

People watch during firefighters and volunteers disinfect a street as a preventive measure to contain the spread of the COVID-19 coronavirus at Yangon on April 8, 2020. (Photo by Ye Aung THU / AFP)

ADB warns global cost of virus could top $4 trillion

Apr 03, 2020 - 2:40 PM

The Asian Development Bank says this may even be an underestimate, since the severity of the coronavirus pandemic remains uncertain

This aerial photo taken on April 2, 2020 shows people visiting a night market in Shenyang in China's northeastern Liaoning province. (Photo by STR / AFP) / China OUT

ADB Manila headquarters closed for coronavirus disinfection

Mar 12, 2020 - 10:30 AM

The Asian Development Bank says operations will continue, but employees will be working from home starting Thursday, March 12

Asia-Pacific economies seen to face $211-billion hit from coronavirus

Mar 06, 2020 - 3:30 PM

S&P Global Ratings expects the Asia-Pacific region to grow 4% in 2020, which would be the worst performance since a contraction in 2008 caused by the global financial crisis

Pedestrians, wearing facemasks amid concerns over the spread of the COVID-19 novel coronavirus, walk down an elevated walkway in Bangkok on March 4, 2020. (Photo by Lillian SUWANRUMPHA / AFP)

ADB lending $3.3 billion to Philippines in 2020

Feb 25, 2020 - 5:10 PM

The Asian Development Bank says half of the amount will be used for the government's ambitious infrastructure push

Changing policies can make aging workforce a 'boon' to economy – report

Nov 18, 2019 - 2:23 PM

Adapting technologies and policies to let an aging populace stay in the workforce for longer can help countries' economies in certain situations, says a new Asian Development Bank report

Women work at a sweatshop sewing clothes under contract with local clothing manufacturers in Manila on July 12, 2013. Visiting World Bank vice president for East Asia and the Pacific Axel van Trotsenburg said the Philippine government needs to convert its recent high economic growth into more jobs for ordinary Filipinos so as to succeed in reducing widespread poverty. AFP PHOTO / Jay DIRECTO JAY DIRECTO / AFP

Metro Manila 'most congested city' in developing Asia

Sep 26, 2019 - 5:10 PM

Aside from the extreme congestion in Metro Manila, the Asian Development Bank says too many government agencies have overlapping functions

Bumper-to-bumper traffic is seen in front of the Iglesia ni Cristo Church along Commonwealth Avenue in Quezon City on Tuesday. A portion of the thorough fare from Sandiganbayan to Litex is closed for the whole day due to a medical mission by the INC. Photo by: JOEL LIPORADA

ADB sees Philippines still hitting 2019 economic growth target

Sep 25, 2019 - 1:50 PM

The Asian Development Bank cuts its growth outlook for the Philippines to 6% in 2019, just clinging on to the lower end of the government's target band

ADB president Takehiko Nakao to resign January 2020

Sep 17, 2019 - 3:45 PM

'I am announcing my resignation with a deep sense of satisfaction and gratitude. With support from staff, board members, and member governments, we have achieved many things,' says Takehiko Nakao

ADB again lowers Philippine economic growth forecast for 2019

Jul 18, 2019 - 6:00 PM

The Asian Development Bank projects Philippine GDP to grow by 6.2% in 2019, lower than its previous projection of 6.4%

Philippines, ADB sign $1.3-B loan deal for Malolos-Clark Railway

Jul 11, 2019 - 5:25 PM

The Malolos-Clark Railway is seen to cut travel time from Manila to the Clark International Airport to less than an hour

RTVM screenshots

ADB not yet ready to quit coal

Jun 20, 2019 - 7:13 PM

At the Asia Clean Energy Forum in Manila, Asian Development Bank President Takehiko Nakao says it could not rule out funding coal power as there is 'no other option' for some countries in Asia

Philippine economy may be one of few winners in 2019 regional slowdown

Apr 03, 2019 - 3:40 PM

The Asian Development Bank trims its 2019 growth prospects for the Philippines, but expects it to be among the few countries which may beat their 2018 figures


ADB cuts Philippine growth forecast, expects inflation to hit harder

Sep 26, 2018 - 12:05 PM

The Asian Development Bank says it revised its outlook due to the weak agriculture sector, high inflation, and continued global monetary tightening

'Can you lend more?' Duterte asks ADB to fund more infra projects

May 05, 2018 - 9:14 PM

'We shall continue to rely on the ADB for financial assistance, be it in the form or loans or grants,' President Rodrigo Duterte says at the 51st Annual Asian Develoment Bank Meeting

BUILD BUILD BUILD. President Rodrigo Duterte asks Asian Development Bank for more loans. Malacañang Photo

ADB vows to fund more Mindanao projects

May 03, 2018 - 8:40 PM

As the Asian Development Bank holds its annual meeting, protesters outside demand an end to 'anti-poor and anti-development strategies'

ADB vows to fund more Mindanao projects

Amid high inflation, Bangko Sentral ready to raise interest rates 'if needed'

May 03, 2018 - 4:10 PM

While the Philippine central bank's medium-term inflation outlook remains within the government target, it says it will continue monitoring the figures in case a policy shift is needed

READY TO RAISE. If all considerations point to the need for the BSP to undertake some decisive action, Diwa Guinigundo says BSP 'will not have second thoughts.' File photo by BSP

Rising gas, food prices seen to push PH inflation faster

May 03, 2018 - 12:24 PM

The movement of prices of basic goods and services is seen to be faster in April

HIGHER PRICES. Higher price increases are noted for rice, corn, fish, fruits, and vegetables in March 2018. File photo by Noel Celis/AFP

#ThewRap: Things you need to know, April 12, 2018

Apr 12, 2018 - 10:05 AM

Hello! Here are the stories you shouldn't miss this Thursday.

WAR ON DRUGS. A dead body with a sign board lays on the road in Tondo, Manila on July 28, 2016. File photo by Alecs Ongcal/Rappler

Aquino on Senate Dengvaxia report, LTFRB on Grab, White House on Mueller | Evening wRap

Apr 11, 2018 - 8:42 PM

Watch Rappler's evening newscast with Marguerite de Leon

Philippines in 'golden age' of growth – ADB

Apr 11, 2018 - 1:21 PM

The Asian Development Bank projects the Philippine economy to grow by 6.8% in 2018 and 6.9% in 2019

ADB Asian development outlook 2018

Infra projects to help PH achieve 7% growth in 2018 – DOF

Mar 09, 2018 - 11:56 PM

During the country’s annual briefing with the Asian Development Bank, Finance Secretary Carlos Dominguez III says, 'Mindanao today is at the front and center of the Build, Build, Build infrastructure program'

Philippines' hosting of ADB meeting 'more frugal' in 2018 than in 2012

Feb 20, 2018 - 4:05 PM

The Philippine government earmarks less than P90 million for the hosting of the Asian Development Bank annual meeting in 2018, lower than the P200 million it spent in 2012

DPWH gets help from Hong Kong-based Arup for infra deals

Feb 13, 2018 - 4:43 PM

The consulting contract is the first of 3 consulting packages expected under the $100-million Infrastructure Preparation and Innovation Facility approved by the Asian Development Bank in October 2017

$380-million ADB loan to finance 11 infra projects in Mindanao

Jan 12, 2018 - 2:12 PM

The loan will finance the construction of roads in the Zamboanga Peninsula and bridges in Tawi-Tawi

ADB upgrades Philippine GDP growth forecast for 2017, 2018

Dec 13, 2017 - 4:30 PM

The outlook of the Asian Development Bank 'assumes that growth in the government's infrastructure program will accelerate'

Building projects through ODA not in conflict with PPPs – ADB

Nov 23, 2017 - 7:05 PM

While the Duterte administration favors official development assistance over public-private partnerships, the Asian Development Bank says PPPs 'will continue to be a way of doing business'

$60 billion a year needed to address ASEAN infrastructure gap – ADB

Nov 13, 2017 - 3:25 PM

To fill the region's massive infrastructure gap, some businessmen recommend the public-private partnership (PPP) route

INFRA GAP. Citing an ADB study, ADB's Diwakar Gupta saya a 10% increase in energy distribution would mean 7% increase in exports; while a 10% increase in trasnportation leads to 2% increase in exports. Photo by Adrian Portugal/Rappler

PH to receive $366M dev’t loan from ADB, France

Nov 01, 2017 - 3:24 PM

The loan is intended for inclusive growth programs with target disbursement late this year or early next year, says the Department of Finance

ADB retains PH growth outlook, sees no signs of economy overheating

Sep 26, 2017 - 8:15 PM

The Asian Development Bank retains its forecast of 6.5% GDP growth for 2017 and 6.7% for 2018, while noting that infrastructure investment and receding inflation will fuel the economy

Don’t just build health infrastructure – make it SMART

Sep 05, 2017 - 4:30 PM

If we want to ever achieve UHC in developing Asia and the Pacific our future health infrastructure must be built SMART

BEING SMART. More digital health interventions are needed to improve the quality of care in SMART facilities. Photo by Lester Ledesma for ADB

ADB offers Philippines $3.8B in loans for infra, social projects

Aug 20, 2017 - 9:05 PM

Nearly half of the total will help fund infrastructure projects from 2018 to 2020 says the Department of Finance

Strong export demand to lift Asian economies – ADB

Jul 20, 2017 - 1:31 PM

Surging global demand for Asian exports and low oil prices will help China and the region s developing economies grow faster than expected this year and next

LOADING CARGO. In this file photo, a worker (C) monitors as containers are lifted onto a trailer at Keppel port terminal in Singapore on January 18, 2016. Roslan Rahman/AFP

ADB warns climate change 'disastrous' for Asia

Jul 14, 2017 - 1:10 PM

Unabated climate change threatens to undo many of the development advancements of the last decades not least by incurring high economic losses says a report from the Asian Development Bank

PH shows off best products, hospitality ahead of 2018 ADB hosting

May 07, 2017 - 5:00 PM

Government officials and business leaders from the Philippines also encourage potential participants to come to the Philippines and invest

ENTICING. The Philippines' giveaways to guests as it encourages them to attend the 2018 ADB meeting in Manila. Photo by Rappler

Looking ahead: Gender equality, universal healthcare in ADB's priority list

May 07, 2017 - 11:48 AM

Here are 5 issues the Asian Development Bank is prioritizing as it crafts its long term strategy for 2030

ADB CHIEF. Asian Development Bank (ADB) chief Takehiko Nakao on November 24, 2016. Noel Celis/AFP/File

ADB, region push for more PPPs as Duterte gov't mulls less

May 06, 2017 - 8:56 PM

The Asian Development Bank also launches Public Private Partnership initiatives in an effort to strengthen its bankability and implementation and approves 2 5B in financing support to private sector operations

CRUCIAL PPP'S. Private Sector Operations Director General Michael Barrow expressed hope the Duterte administration would continue with PPP projects. Photo by Natashya Gutierrez

Japan's Crown Prince opens 50th ADB meeting: Prioritize poverty reduction

May 06, 2017 - 11:30 AM

There are still over 300 million people living in poverty in this region and poverty reduction through sustainable and inclusive growth remains an important agenda to us says the Crown Prince

ROYAL REMARKS. Japanese Crown Prince Naruhito delivers a speech at the opening session of the Board of Governors at the Asian Development Bank's annual meeting in Yokohama, south of Tokyo, on May 6, 2017. Kazuhiro Nogi/AFP

ADB achieves most dev’t targets, falls short on poverty reduction

May 05, 2017 - 1:32 PM

The ADB notes that inequality grew in many populous countries in the Asia Pacific

DEVELOPMENT GOALS. ADB VP for East Asia, Southeast Asia and the Pacific Stephen Groff talks about development targets reached by the bank. Photo by ADB

ADB president: We're not rivals with China's AIIB

May 04, 2017 - 3:48 PM

Asian Development Bank s Takehiko Nakao says the financing need to develop infrastructure in Asia is so huge that the two banks must cooperate

PH 2016 growth upgraded to 6.9%

Apr 07, 2017 - 7:04 PM

The major contributors for the upward revision in 2016 were Construction Mining and Quarrying and Other Services says the Philippine Statistics Authority

Asia must spend $26-T on infrastructure by 2030 – ADB

Feb 28, 2017 - 2:06 PM

UPDATED The lender says governments in some of the poorest countries in the world should invest in everything from transport telecommunications power and water and sanitation

A bird's eye view of two buildings under construction in Manila on November 17, 2016. Ted Aljibe/AFP

Under Duterte, is PH economy in good hands?

Jan 26, 2017 - 4:20 PM

Growth momentum is there until 2017 but beyond that the management of the new leader Duterte will have a key role says the senior economist at ING bank

MOVING FORWARD. Aquino turned over an economy to Duterte that has benefited from reforms in governance and transparency. How will the economy fare under Duterte? Rappler graphics

Lanao del Sur forms council to manage river basin

Jan 13, 2017 - 7:05 PM

Lanao del Sur governor Soraya Adiong says failure to protect the lake will have a negative impact not only on the lives of the Maranaos but all Mindanaoans

File photo from the DENR website

Can we end poverty in the Philippines through cash transfers?

Dec 20, 2016 - 1:00 PM

Recent poverty reduction in the Philippines is certainly encouraging but there is still a lot of work to do

Children of CCT beneficiaries must attend school. Photo courtesy ADB