President Ferdinand R. Marcos Jr. praised the ongoing support of the Asian Development Bank (ADB) for the Philippines which has significantly contributed to the country’s economic development.
During newly-elected ADB President Masato Kanda’s courtesy call in Malacañang, President Marcos recalled the long-standing support of the ADB to the Philippines, which began during his father’s administration, Ferdinand E. Marcos Sr.
On December 19, 1966, the ADB was inaugurated in Manila, and there were only 31 members at that time, serving a predominantly agricultural region. Takeshi Watanabe was the first President of the ADB. Currently, it has 69 members, 49 of which are from Asia.
The President described the ADB as “the most important partner” of the Philippines, saying, “The partnership between the ADB and the Philippines has been tremendous.”
The following projects funded by the Asian Development Bank (ADB) are part of the current administration’s initiatives: the Bataan-Cavite Interlink Bridge Project, the Davao Public Transport Modernization Project, the Climate Change Action Program, the Build Universal Health Care Program, the Health System Enhancement to Address and Limit COVID-19 (HEAL) Project, the Competitive and Inclusive Agriculture Development Program, and the Walang Gutom 2027: Food Stamp Program.
“I mean the development that we have achieved that being assisted by the ADB, which is the most important partner that we have had in the Philippines,” President Marcos told the newly elected ADB President.
Kanda assumed the ADB presidency on February 24, 2025, to complete the remaining term of immediate past President Masatsugu Asakawa, whose term expires on November 23, 2026.
“And yet, we find that in the last years, recent years, that has even increased. And so, I think, it is very encouraging, very promising,” the President said. | PND