ADB drafts new country partnership strategy for Philippines

MANILA, Philippines — The Asian Development Bank (ADB) is looking at focusing on intensified climate action, promoting climate-smart connectivity and investing in people under a new country partnership strategy (CPS) being formulated for the Philippines.

In a social media post, the multilateral lender said it held a kickoff meeting with the National Economic and Development Authority (NEDA) for the country programming mission for the Philippines last Sept.8.

ADB Philippines country director Pavit Ramachandran emphasized that the ADB is keen to ensure the CPS for 2024 to 2029 will strongly align with the Philippine Development Plan, which serves as the country’s overall development blueprint for 2023 to 2028.

Among the indicative strategic priorities under the new CPS is to intensify climate action through strategic engagement for an enhanced climate policy framework, as well as investments in flood protection, climate-smart agriculture and renewable energy.

Promoting climate-smart connectivity is also among the indicative strategic priorities of the new CPS. This will involve support for policy and regulatory reforms for clean energy transition and climate-integrated masterplanning.

In addition, it will involve climate resilient infrastructure pipeline development and project preparation, as well as climate-smart infrastructure investments.

The ADB is also looking at investing in Filipinos’ future as a priority under the new CPS through support for reforms to enhance competitiveness and job creation, promote financial inclusion and advance universal health coverage.

Investing in Filipinos’ future will also involve investments to improve access to quality education, affordable health services, and integrated social protection coverage.

For his part, NEDA Secretary Arsenio Balisacan vowed to provide guidance and technical inputs for the formulation of the new CPS.

The new CPS being prepared will continue ADB’s support for the Philippines.

The ADB is helping the Philippines address poverty and inequality, tackle climate change, enhance resilience and sustainability, make cities more livable, improve governance and institutional capacity, and promote gender equality.

To date, ADB has committed 621 public sector loans, grants, and technical assistance totaling $29.9 billion to the Philippines.

The ADB said these were financed by regular and concessional ordinary capital resources,and other special funds.