Philippines, ADB unveil 6-year strategy for inclusive, sustainable growth
The Philippine government and the Asian Development Bank (ADB) officially launched Thursday a six-year partnership aimed at advancing the country’s development agenda.
During the launch and ceremonial turnover at the Malacanang Palace, President Ferdinand Marcos Jr. cited the ADB as a reliable partner in the nation’s progress.
He highlighted that with the Country Partnership Strategy (CPS), the ADB is not simply supporting projects but it is laying the groundwork for a better future of the Philippines.
The ADB strategy for 2024-2029 will focus on three key areas: strengthening human development, boosting economic competitiveness and quality infrastructure; and sustaining natural resources and ecosystems while enhancing disaster resilience.
Complementing these priorities are cross-cutting initiatives such as digital transformation, gender equality, and improved governance to ensure a holistic approach to development.
“This strategy is about turning lofty goals into tangible improvements in the daily lives of our people. Today, we are not just talking about progress. We are delivering it with clear, impactful actions,” Marcos stated.
The National Economic and Development Authority (NEDA), as the government’s key coordinating agency for development planning, will play a pivotal role in ensuring that ADB’s support under the strategy aligns with the country’s broader development goals as outlined in the PDP 2023-2028.
“The Philippines is on track to achieving Upper Middle-Income Country status, and it is imperative that the gains from our economic growth are felt by all Filipinos. As the CPS was formulated through comprehensive consultations with NEDA and other government agencies, we are confident that the strategies outlined are aligned with the PDP, effectively guiding our efforts to address socioeconomic and regional disparities, enhance resilience, and foster a more inclusive and equitable economy,” said NEDA Secretary Arsenio Balisacan.
Highlighting the importance of the CPS in sustaining the country’s growth momentum, ADB President Masatsugu Asakawa remarked, “I want to reaffirm ADB’s strong commitment to supporting the Philippines’ economic and social transformation through our new Country Partnership Strategy. Building on our shared successes, I am confident that together we will achieve remarkable progress in this new chapter of our partnership.”
Among the projects that will be supported under the strategic partnership are the Bataan-Cavite Interlink Bridge and the North-South Commuter Railway. These flagship infrastructure projects will improve travel convenience, strengthen regional integration, and stimulate economic growth throughout the Greater Manila Bay area.
The CPS will prioritize investments aimed at enhancing access to quality education and healthcare services, particularly for marginalized and low-income communities. The partnership will continue to support flagship social assistance programs, such as the Pantawid Pamilyang Pilipino Program (4Ps). These programs are essential for safeguarding vulnerable populations against economic shocks and helping reduce income inequality.
The CPS will be implemented through the annual Country Programming Mission, which serves as a platform for ADB to present its rolling three-year pipeline of support for the country.
As the country's leading multilateral development partner and the second-largest source of official development assistance (ODA), ADB has made a total net commitment of USD8.84 billion, comprising 26 ODA loans and 23 ODA grants to the Philippines. NEDA Public Relations
