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Jun 14, 2018 @ 16:48

ADB lending doubles to $2.5B for 2019


This regional lender is betting big on the Philippines.

The Asian Development Bank (ADB) is so confident about the Philippines that they are willing to double the money they are lending over the next two years.

In a statement, the National Economic and Development Authority said ADB’s lending pipeline of $945 million for 2018 will rise significantly over the next two years.

ADB’s proposed lending pipeline will balloon to $2.47 billion for 2019 and to $2.4 billion by 2020.

“The total lending pipeline of $2.40 billion has two PBLs worth $600 million and six projects worth $1.80 billion,’ the NEDA said.

By 2021, the ADB will lend $2.1 billion more to the Philippines.

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