The Asian Development Bank (ADB) reaffirmed its commitment to supporting the Philippines, projecting around $20 billion (approximately P1.18 trillion) in assistance through 2028.

In a meeting with newly appointed Department of Finance Secretary Frederick Go, ADB president Masato Kanda emphasized the institution’s long-standing partnership with the country and discussed its support as the Philippines prepares to chair the Association of Southeast Asian Nations (ASEAN) in 2026.

‘Phl one of ADB’s important partners’

“The Philippines is home to ADB’s headquarters and one of our most important and long-standing partners,” Kanda said.

“Our annual assistance including cofinancing is expected to exceed $5 billion in 2025, and to reach $15 billion over 2026-2028. This reflects both the ambition of the government’s development agenda and the strength of our collaboration.”

Private sector support

Kanda, who assumed the ADB presidency in February, also highlighted the bank’s continued support for the Filipino private sector, including an upcoming $400-million technology modernization program aimed at boosting business competitiveness.

He and Secretary Go likewise discussed preparations for the Philippines’ ASEAN chairship in 2026, with Kanda affirming ADB’s backing for the government’s governance and anti-corruption initiatives, noting that strengthening transparency and public trust is crucial to achieving successful development outcomes.

Earlier this month, ADB supported the initial public offering of major water utility Maynilad, providing $145 million to expand and upgrade Metro Manila’s water and wastewater infrastructure.

Established in 1966, ADB promotes economic and social development across the Asia-Pacific through loans, grants, and technical assistance.