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NEWS UPDATES Asean Affairs   February 21, 2018  

ADB is increasing lending to PHL

The Asian Development Bank (ADB) hopes to increase lending to the Philippines in the coming years in support of the government’s massive infrastructure spending program.

“Last year, loans provided by ADB to the government reached $1.08 billion, a record high, with majority of the assistance going to infrastructure-related activities especially in Mindanao,” ADB board secretary Woochong Um said in a press conference in Manila City.

“We hope to sustain and even surpass this level of assistance to the Philippines,” he said.

In January, ADB and the Philippines signed two loan agreements on improving Mindanao’s roads and reform the country’s capital markets.

The first loan covers the construction of about 280 kilometers of roads and bridges in Tawi-Tawi  and the Zamboanga Peninsula.

The second loan will help accelerate investments in infrastructure by establishing a framework to diversify and broaden funding sources, particularly private sector financing.

The multilateral lender also approved last year a $100-million loan for the Philippines’ Infrastructure Preparation and Innovation Facility.

“We share with the Philippines government and all Filipinos the goal of creating a prosperous, competitive and inclusive society,” Um said. —VDS, GMA News

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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