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(Eagle News)–The Philippines and the Asian Development Bank have signed a $400-million loan agreement that aims to help boost domestic capital markets amid the COVID-19 pandemic. The Department of Finance said the loan for the Support to Capital Market Generated Infrastructure Financing, Subprogram 1 (SCMGIF1) is set for accelerated disbursement this year. The loan is expected to be effective by June 10 and be fully disbursed by June 15, with a maturity period of 15 […]
(Eagle News)–The Asian Development Bank on Thursday, March 12, ordered its staff to work from home after a visitor tested positive for the novel coronavirus. The ADB said its facility in Ortigas Center, Pasig City will be closed from March 12 to undertake cleaning and disinfecting. “Bank operations will continue,” it said. ADB said its management will decide in the coming days on when to reopen. The Philippines has so far recorded over 40 COVID-19 […]
(Eagle News) — Because of the slowdown in the global economy and Philippine domestic investment, Asian Development Bank (ADB) has revised the country’s economic growth this year to 6 percent, down from the previous forecast of 6.4 percent. In an update of its flagship annual economic publication, Asian Development Outlook (ADO) 2019, ADB revised its forecast for Philippine gross domestic product (GDP) growth to 6.0% in 2019 and 6.2% in 2020, against its previous […]
Says aim is to sustain growth rate at 7 percent, to bring down poverty incidence rate to 14 percent by 2022 (Eagle News) — President Rodrigo Duterte on Saturday, May 5, said there was a need to “put our house in order,” vowing to be “harsh” against those who prevented the country from achieving this goal. According to the President, who spoke in closing ceremonies of the Asian Development Bank Annual Meeting in Mandaluyong, he […]
MANILA, Philippines (Eagle News) — Magpapatupad ng mahigpit na seguridad ang Philippine National Police, kasabay ng annual meeting ng Asian Development Bank na isasagawa sa bansa. Ito na ang ikalimang pagkakataon na pangungunahan ng Pilipinas ang nasabing event, kung saan libu-libong delegado mula sa 67 na bansa ang inaasahang dadalo. Inaasahang tatagal ito ng apat na araw na magsisimula ngayon at matatapos sa Linggo, Mayo 6. Ayon kay PNP Chief Oscar Albayalde, nasa 7,500 na mga […]
(Eagle News) — The Asian Development Bank has approved a $380-million loan to help “strengthen the road network and spur economic development” in Mindanao. In a statement on Friday, the ADB said the amount “will help finance the detailed design of 300 kilometers of national highways in Mindanao, which will be constructed through other projects.” Jeffrey Miller, Principal Transport Specialist at ADB’s Southeast Asia department, said the strengthening of roads in southern Philippines “will support the development […]
(Eagle News) — The Asian Development Bank forecast a “strong growth” for the Philippine economy for 2017 and 2018, with inflation predicted to pick up, and current account expected to post a surplus. The Manila-based lender pegged Gross Domestic Product growth for 2017 at 6.4 percent, and for 2018 at 6.6 percent. In 2016, ADB said the Philippine economy posted a 6.8-percent growth, buoyed by domestic demand. It said in that same year, private consumption […]
MANILA, Philippines (AFP) — A business-as-usual approach to climate change will be “disastrous” for Asia, undoing much of the phenomenal economic growth that has helped it make vast inroads against poverty, the Asian Development Bank said in a report released Friday. A continued reliance on fossil fuels will see the world’s most populous region face prolonged heat waves, rising sea levels, and changing rainfall patterns that will disrupt the ecosystem, damage livelihoods and possibly even […]
DAVAO CITY (Eagle News) — Posibleng palitan ng lokal na pamahalaan ng Davao ang mga pampasaherong jeep ng High Priority Bus System (HPBS) para matugunan ang dumadaming populasyon ng mga commuter sa naturang probinsya. Batay sa ginawang pagsusuri ng Asian Development Bank (ADB), ang planong pagpalit sa mga pampasaherong jeep ngo HPBS ay epektibo at makakatulong sa pagpapagaan ng transportasyon ng mamamayan. Magkakaroon din umano ng bukod na lanes para sa HPBS na inaasahang magsisimula […]
QUEZON CITY, Philippines (Eagle News) — The latest study released by the Asian Development Bank (ADB) revealed an alarming trend wherein college graduates spend up to two years before finding gainful employment, resulting in one million young Filipinos having no jobs. The study shows that the reason for such a long transition period is the lack of life skills of college graduates. https://youtu.be/R_VjBp-Ly3w
MANILA, Philippines (Eagle News) — The economic team of President Rodrigo Duterte is receptive to the offer of the Asian Development Bank (ADB) of greater financial assistance to the Philippines to push the 10-point socio-economic agenda of the new administration. Finance Secretary Carlos Dominguez III believes that ADB’s support will go a long way in helping pres. Duterte deliver on his electoral mandate to bring progress to all Filipinos. Dominguez issued the statement after last […]
PASIG City, Philippines – The Asian Development Bank approved the $123.3 million-loan of the Metropolitan Waterworks and Sewerage System which will be used in the Angat Dam Water Transmission Improvement Project in order to improve Metro Manila’s water supply. Said project will be completed on 2020 and will be operational by 2021. (Eagle News Service Described by Jay Paul Carlos, Video Editing by Jericho Morales, Uploaded by MRFaith Bonalos) https://youtu.be/YS2q8MlvA4E
