PBBM vows efficient use of ADB aid

President Ferdinand Marcos Jr. on Thursday vowed to effectively use assistance from the Asian Development Bank (ADB) to benefit all Filipinos.

STRONGER RELATIONSHIP. President Ferdinand Marcos poses for a photo with members of the Asian Development Bank on Sept. 29, 2022. He is flanked by Sri Lankan President Ranil Wickremesinghe (left) and ADB President Masatsugu Asakawa. Screengrab from RTVM

At the 55th ADB Meeting of the Board of Governors, the President said the ADB, which is based in Manila, has been a dependable institution in providing loans, technical assistance, and equity investments to its members to promote social and economic development.

“As President, it is certainly my duty to ensure that the government remains committed to the efficient and effective utilization of this institution’s assistance for the full benefit of all Filipinos,” he said.

He also pledged that the government’s relationship with the ADB under his administration will grow stronger.

Through the ADB, Mr. Marcos said the government was able to move forward with projects in areas such as infrastructure, social reform and community development, and governance and institution development.

“As such, our shared goals will only bring us closer together to nurture our bonds and foster hope in the communities that we serve,” he said.

Mr. Marcos said he recognized the ADB for allowing the Philippines to access its quick disbursing budget support facility to aid countries in mitigating the severe economic shocks caused by the COVID-19 pandemic.

The President also encouraged international counterparts and partners to work together for a better post-pandemic world.

“It is time for us to work together to bring about an even better normal. I believe that at the heart of this goal is the way that we must develop an economy that is green, that is sustainable, truly climate resilient and responsive to people’s immediate needs,” he added.

Before the ADB meeting, the President met Sri Lankan President Ranil Wickremesinghe at the Palace. Wickremesinghe arrived in Manila on Wednesday evening to chair the 55th meeting of the ADB board of governors.

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