ADB Headquarters, Mandaluyong City
February 21, 2017
“Our country is truly fortunate that ADB has decided to establish its headquarters in Manila,” said President Rodrigo Roa Duterte when he graced the Asian Development Bank (ADB) 50th Anniversary Reception held at the ADB Headquarters in Mandaluyong City.
In his keynote address, President Duterte said that the ADB’s establishment in the Philippines has helped in securing needed development assistance, vital employment, and technical and information transfers throughout the years.
“For its part, the Philippines has received more than 16 billion dollars from ADB in the form of loans and grants. About a billion dollars more have also been released in the form of loans and investments to private Philippine companies,” said the Chief Executive, adding that the ADB is one of the largest Official Development Assistance (ODA) partners of the country.
The President also expressed that he is looking forward to the forthcoming releases of US$ 4.22 billion in loans and US$ 9.3 million in technical assistance for the next three years. He assured all ADB executives that the Philippine government would redouble its efforts to foster economic growth and reduce poverty.
He also shared that the administration is working for a more efficient tax collection and is pushing to fund free irrigation, free education in state universities and colleges, and universal healthcare.
“Together with the local governments, we are also streamlining business registration and processes, providing support for targeted sectors, and intensifying the war against illegal drugs, criminality, and corruption. I can assure you…that there will be no corruption in my government. You have my word,” he said.
At the end of his speech, President Duterte raised a toast to the ADB and expressed his hopes for the institution to continue becoming an important partner for the development of the Philippines and the entire Asia and the Pacific.
“May it remain a catalyst for change and a force for progress in the years to come,” he ended.
An international development finance institution, the ADB was conceived in the early 1960’s with the aim to reduce poverty and promote sustainable economic growth in Asia and the Pacific by providing loans, grants, equity investments, and guarantees to developing member countries. Its headquarters in Manila was opened on December 19, 1966 with Mr. Takeshi Watanabe as ADB’s first President.
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