The ADB Just Approved a $500-Million Loan for the Philippines

The Asian Development Bank (ADB) has approved a $500 million loan to support the Philippines’ conditional cash transfer program. 

In a statement dated June 10, the ADB said that the loan would be used for the expanded Pantawid Pamilyang Pilipino Program (4Ps), which was introduced in 2008 under the administration of then President Gloria Macapagal Arroyo.

“The 4Ps program provides vulnerable households with an income supplement to help their children become educated, stay healthy, and leave poverty for good. Our evidence shows that this is working,” said ADB Vice-President Ahmed M. Saeed.

“The 4Ps program has helped 1.5 million people escape poverty since it began in 2008. Through this project loan and technical assistance support, ADB is helping the Philippines expand these gains,” he added.

Poor families under the 4Ps are given cash aid as long as their children attend school, go to health centers for checkups, and participate in family development sessions.

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The 4Ps is implemented by the Department of Social Welfare and Development, and extends assistance to about 4.3 million Filipino households.

In addition to the loan, the ABD will also provide a $3.1-million technical assistance will be provided to help improve the development sessions, provide livelihood packages to assist 3,000 poor households, support IT reforms, and prepare for the integration of the 4Ps database with the country’s national identification system.

In April 2020, the ABD loaned the Philippines $1.5 billion to support the country’s fight against the COVID-19 pandemic.

The ADB has so far loaned the Philippines $2.6 billion in 2020.

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