MANILA, Philippines—The Asian Development Bank (ADB) has approved a $300 million dollar loan for the Philippines to support efforts to boost inclusive growth. ADB’s financial assistance, the institution said in a statement, will help the Philippine government implement reforms that will expand access by citizens to financial services especially for those in unserved areas of the country. ADVERTISEMENTThe loan was released through the ADB’s Inclusive Financial Development Program, Subprogram 2, that aims to support reforms that will help a country’s government reach targets linked to the National Strategy for Financial Institution. Ensuring all Filipinos are part of the financial system is important to this approach,” said ADB Vice-President Ahmed M. Saeed. The Bangko Sentral ng Pilipinas, Securities and Exchange Commission, Philippine Guarantee Corporation, Philippine Statistics Authority, Department of Justice, and Insurance Commission will implement the reforms that the ADB loan will support.

Source: Philippine Daily Inquirer August 22, 2020 09:00 UTC