Duterte to ADB: Lend Philippines more

MANILA, Philippines — Aiming to reduce poverty by 2020, President Duterte urged members of the Asian Development Bank (ADB) to lend the Philippines more so that it can pursue significant economic growth in the next few years.

Foregoing with the greetings,  Duterte buckled to work at once by putting his administration’s best foot forward before the meeting of the world’s best in the business and economic scene during the 51st ADB Annual Meeting Host Dinner at Edsa Shangri-la yesterday.

“I am never with a crowd with so much money.  Can you lend me more? I am positive,  not positive of sickness but positive in terms of economic viability,” Duterte said at the start of  his speech.

He described the Philippines as waiting to break out from its shell to claim its place among the region’s economic dragons.

“But to realize our potentials, we have to extract the wealth from the earth’s bosom. Thus, we shall continue to rely on the (ADB) for financial assistance — be it in the form of loans or grants,” he said.

Duterte vowed to work to make the Philippines viable for business.

“But first we have to put our house in order. We need to fix our transportation system. We have to stop corruption. We shall continue our campaign against illegal drugs within the limits [that] the law allows,” he said.

He reiterated that the fight against all forms of corruption and illegal drugs will be relentless as always.

“The fight will be relentless. It’s a fair warning,” he said.

Prior to this, the President then batted for the need to boost the country’s inclusive growth as the Asia Pacific Region moves to be the fast emerging vibrant economies around the world.

“Your presence since then is proof of your faith in the capacity of the Philippines to exorcise its financial and economic demons,” Duterte said, noting that the ADB set up its headquarters in Manila over 50 years ago.