Asian Development Bank (ADB) President Masato Kanda met with Philippine President Ferdinand R. Marcos Jr. at Malacañang Palace on Wednesday to discuss deepening the partnership between the ADB and the Philippines, with a shared focus on fostering broad-based and sustainable growth across the country.
During the meeting, President Kanda emphasized ADB’s commitment to addressing the unique needs of local communities and delivering meaningful improvements to underserved areas. He highlighted the importance of striking a balance between infrastructure development and targeted measures that protect livelihoods and mitigate emerging risks, underscoring how this approach has been successful in ADB’s ongoing collaboration with the Philippines.
“We take pride in being a trusted partner to the Philippines, working alongside the government and local communities to address complex challenges,” said President Kanda. “Our responsive financial support, expert policy advice, and local cooperation are designed to ensure that the benefits of economic growth are shared by all Filipinos. We are excited to build on our long-standing relationship and deepen inclusive growth throughout the nation.”
President Kanda praised the Philippines’ impressive economic performance, noting an average annual growth rate of 6.1% over the past four years, alongside a significant reduction in poverty from 18.1% in 2021 to 15.5% in 2023. He also commended the government’s forward-thinking reforms that have opened key sectors, including renewable energy, shipping, railways, expressways, and telecommunications, to foreign investments.
ADB currently supports ongoing projects in the Philippines totaling $10.27 billion. Notable initiatives include the Laguna Lakeshore Road Network, Bataan–Cavite Interlink Bridge, Malolos–Clark Railway Project, and the South Commuter Railway Project, ADB’s largest regional financing initiative. These projects align with the Philippine government’s goals of developing quality infrastructure that connects people to jobs and services, creating a solid foundation for long-term prosperity.
Looking ahead, under ADB’s new Country Partnership Strategy (2024–2029), the bank plans to expand its engagement in the Philippines. This will involve a strengthened focus on human capital development, social programs, and innovation, ensuring that even the most vulnerable communities benefit from the country’s economic progress.
Building on its successful track record, ADB will continue to collaborate closely with local authorities and stakeholders to design tailored solutions that address evolving challenges. By prioritizing capacity building, innovation, and people-centered policies, ADB aims to accelerate the Philippines’ progress toward its long-term development goals.
With its proven ability to mobilize substantial financial resources, supported by its triple-A credit rating and global reach, ADB is well-positioned to continue driving transformative development across Asia and the Pacific. In the Philippines, ADB’s approach combines thorough project preparation, transparent governance, and collaboration with government agencies and private investors to sustain economic growth, broaden participation, and bolster confidence among both local and international stakeholders.
