Infra projects get funding boost

The Asian Development Bank will extend at least $7.1 billion in loans to the Philippines from 2019 to 2021, mainly to support the Duterte administration's ambitious infrastructure program. In a statement, the Manila-based multilateral lender said it signed last week a memorandum of understanding with state planning agency National Economic and Development Authority for the indicative sovereign lending program covering the next three years. Two-thirds of the proposed lending program or $4.5 billion will be allocated for projects that connect regions and communities and manage urbanization, such as railways, bridges, roads, and flood management under the "Build, Build, Build" program...

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