ADB Headquarters, Mandaluyong City
May 22, 2023

President Ferdinand R. Marcos Jr. conveyed his optimism for the Asian Development Bank’s (ADB) upcoming release of its Country Partnership Strategy (CPS) for 2024-2029 during a reception hosted in his honor at the ADB Headquarters in Mandaluyong City.

“We await the release of the Country Partnership Strategy for 2024-2029, which shall clearly spell out the ADB’s recommended medium-term developmental agenda for the Philippines,” the President said, citing that the CPS, which is anchored on the theme ‘Investing in Climate, Filipinos and the Future,’ is nicely aligned with the Philippine Development Plan (PDP) 2023-2028.

The Chief Executive also revealed that three (3) strategic programs have already been signed with the ADB, and many more are lined up that will support the Administration’s high priority developmental goals.

He noted that with the World Health Organization (WHO) officially declaring COVID-19 as no longer a public health emergency of international concern, the Administration can now refocus its priorities on developing the country’s economy and improving the lives of ordinary Filipinos.

Moreover, the President cited the 2022 World Bank report wherein climate change will continue to pose a threat to the country, of which the government is preparing for the El Niño phenomenon. Relative to this is the World Risk Index 2022 report whereby the Philippines ranked on top of the list of 193 countries that are vulnerable to the effects of climate change.

“Cognizant of all these, we have strategically integrated the climate agenda into the Plan. As we ramp up annual public infrastructure spending to 6% of GDP, consistent with our ‘Build Better More’ program, we will incorporate the elements of sustainability, climate-resilience and disaster-proofing in all phases of societal and infrastructural planning, design, construction, up to operation and maintenance,” President Marcos Jr. said. He also emphasized that climate change shall be the lodestar of the government’s integral national policies and investment decisions.

In closing, the President quoted his father’s words during the ADB inauguration 57 years ago – “We will meet those responsibilities” to express the Administration’s commitment towards ensuring that the plans and projects are executed stringently and in a timely manner, and that the loans and other technical assistance are judiciously utilized.