ADB approves loan to support Philippines’ poor


The Asian Development Bank (ADB) approved a US$200mil (RM871mil) loan to support the Philippine government’s effort to provide emergency cash subsidies to vulnerable households amid the Covid-19 pandemic.

“This global pandemic, of a kind not seen in the last century, has disrupted the livelihoods of millions of Filipinos and could set back the very substantial gains the country has made in reducing poverty in recent years, ” ADB vice-president Ahmed Saeed said.

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