TheADB has been a strong partner in the development of the Philippines, which isits host country. Since 1966, when its headquarters was established in Ortigas,Metro Manila, ADB has been one of the country’s largest sources of officialdevelopment assistance, averaging on a annual lending of $745 million in thepast 10 years.ThePhilippines, being one of the rapidly growing economies in Southeast Asia, iscomplimented by low inflation rates, an impressive fiscal performance, and a solidexternal balance of goods and services. The current administration, which tookoffice in June 2016, promised the strengthening of the country’s peace andsecurity while building a stronger economy in which the poor andunder-privileged is not left behind as its priorities.
As ofApril 2015, ADB has successfully expended the $500 million Emergency Assistancefor the victims of Typhoon Haiyan. Efforts are now being concentrated to the reconstructionof infrastructure and the creation of livelihood programs and social welfareand services.As of31 December 2016, the total active lending portfolio for the country amountedto $3.27 billion. The education sector has the largest share of the portfolioat 45%, followed by public sector management at 17%, and the energy sector at 12%.
On 27November 2017, the ADB Board of Directors approved a $300 million loan and$500,000 technical grant to support the government in developing the domestic market to financethe building of infrastructure. The Philippine Development Plan, or the”Build, Build, Build” program, is the keystone of the incumbent administration. It calls for the publicspending on infrastructure to increase the country’s GDP to 7.4% by 2022 fromits current level of 5.1%. The Future of ADB assistance to the Philippines willbe closely aligned with the long-term development vision for 2040, also knownas “Ambisyon Natin 2040.”