Marcos: ADB reliable partner for progress
‘This is not just about adding numbers to a balance sheet. It’s giving families access to life-saving health care, reviving businesses and dreams, [and] empowering farmers to turn their hard work into prosperity’
Photo courtesy of PCO
The Philippines and the Asian Development Bank (ADB) formally launched a six-year partnership aimed at advancing the country’s development agenda.
During the launch and ceremonial turnover of the Country Partnership Strategy (CPS) for 2024 to 2029 at the Palace, President Ferdinand Marcos Jr. said the ADB has been a reliable partner in Philippine development for almost 60 years.
“With almost $9 billion in net commitment for the Philippines as of mid-2024, it is the country’s top multilateral development partner and second largest source of official development assistance,” he said.
Marcos added that the CPS is not just funding government projects but is “laying the groundwork” for a better future.
“Reflecting on the ADB’s 2018-2023 strategy, we see a story of real impact. The substantial investments in health care, business recovery, and agriculture do not just fund projects — it changes lives,” he said.
The ADB CPS for 2024-2029 will be focusing on three key areas: strengthening human development, boosting economic competitiveness and quality infrastructure, and sustaining natural resources and ecosystems while enhancing disaster resilience.
Not about addition
“This is not just about adding numbers to a balance sheet. It’s giving families access to life-saving health care, reviving businesses and dreams, [and] empowering farmers to turn their hard work into prosperity,” Marcos noted.
“Thanks to the ADB, we are not just talking about progress; we are now on the path to achieving it. Your contributions have turned hope into reality and made a profound difference in countless lives here in the Philippines. For that, we are very grateful,” he added.
Marcos stressed that the new CPS for the next six years show growth means more than numbers. He set an example of a 6 percent increase in the economy annually.
“This strategy is about turning lofty goals into tangible improvements in the daily lives of our people. Today, we are not just talking about progress. We are delivering it with clear, impactful actions,” he said.
Meanwhile, Marcos highlighted the country’s focus on renewable energy and climate solutions which are valuable steps in protecting the planet while fostering growth.
Recently, the Philippines was named the most vulnerable country in the world when it comes to climate change according to the World Risk Index.