11 Jul Asian Development Bank Supports Duterte’s Infrastructure Projects
On Friday, July 8, the Asian Development Bank (ADB) showed their support on President Rodrigo Duterte’s planned infrastructure projects in the country.
“The recent strong growth in the Philippines provides a foundation for further sustainable growth to fully realize this country’s enormous potential,” ADB’s president Takehiko Nakao said.
No less than the president of ADB meet with the President’s economic managers to show support for Duterte’s 10-point economic agenda, especially on infrastructure development.
Nakao said, “Our support will be tailored to the government’s socio-economic and poverty reduction priorities, and to the country’s middle-income status. We are looking forward to further discussions on how we can best support the country.”
ADB also wants to support developments in agriculture, health, education, and social protection through conditional cash transfer.
Duterte’s Finance Secretary Carlos Dominguez III said, “This is because the strengthened partnership between the bank and the Philippine government on the Duterte presidency would, as conveyed by Mr. Nakao, focus on key areas that the 10-point agenda itself aims to harness to enable our people to truly benefit from a strong economy that the ADB projects to grow beyond 6 percent in 2017.”
“Unemployment is hovering at historical lows of 6.1 percent as of April 2016. But challenges remain to create better jobs and reduce underemployment especially in rural areas,” responds with approval in their feat of changing the lives of the Filipino people.
To attempt higher productivity and job creation, the young and educated people in the country must be tapped by both small and medium enterprises.
ADB is currently on the move to prepare for the Mindanao Development Program focused on infrastructure projects. One of their goals is to develop roads in parts of Mindanao to further enhance the linkages between regional markets.
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