LGUs urged to actively identify projects for possible ADB funding
CEBU CITY, Philippines —Local governments in Cebu and other areas in the Visayas should be proactive in identifying projects for possible funding by the Asian Development Bank (ADB).
Kelly Bird, ADB country director for the Philippines, said they wanted to increase funding for projects in the Visayas.
Bird explained that for this reason, they came to Cebu to meet with local stakeholders to encourage them to consider ADB financing for their project.
However, Bird explained that the project proposals have to come from the local government units (LGUs) in coordination with the National Economic Development Authority (NEDA).
Bird sad that project proposals have to be aligned with the country partnership strategy.
According to ADB, their operations in the Philippines support the government’s priorities identified in the 2017-2021 Philippine development plan. The plan seeks to raise the country’s potential growth trajectory and reduce poverty incidence and income inequalities.
ADB’s operations also rest on three strategic pillars. These are accelerating infrastructure and long-term investments, promoting local economic development, and investing in people.
The strategy includes a program of priority activities to support these pillars as well as rebalance ADB financing towards infrastructure projects that support the government’s Build, Build, Build infrastructure program.
The government’s Build, Build, Build program will enable the Philippines, which is lagging behind neighbors as far as infrastructure is concerned, to catch up, Bird said.
ADB offers sovereign loans, private sector loans, and public-private-partnership loans, according to Bird.
He cited the $100 million financing for the construction of the Mactan Cebu International Airport Terminal 2 as an example of the private sector loan.
ADB has also been working with the Cebu City government on the latter’s solid waste management project by providing technical support, Bird said.
He disclosed that ADB plans to lend to the Philippines at least $2.5 billion a year. /dcb
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