A report by the DOF’s International Finance Group said the proposed lending pipeline under the ADB’s Country Operations Business Plan for the Philippines would focus on three priority areas. “Program loans under the proposed lending pipeline make up 39 percent of the COBP while project loans account for 61 percent,” IFG said in a report to Finance Secretary Carlos Dominguez III at a recent DOF executive committee meeting. ADB also agreed to explore co-financing arrangements with the Japan International Cooperation Agency on the Philippines’ major infrastructure projects such as the proposed PNR Malolos-Clark Railway and the PNR Commuter South Line project. The multilateral lender agreed to help the Philippines beef up its capacity and readiness in handling and financing infrastructure projects, particularly on the construction of the country’s railways. “The bank has also responded positively to our request to increase the Philippines’ lending envelope and provide more grants and technical assistance,” the IFG said.

Source: The Standard August 20, 2017 11:48 UTC