Manila to get ADB loan

Manila to get ADB loan

MANILA (AFP): The Asian Development Bank (ADB) said here
yesterday that it had approved three loans totaling US$60 million
for various projects in the Philippines.

A $30-million loan will support a project to improve public
health standards and the urban environment in seven Philippine
cities including the resort city of Puerto Princesa in Palawan
and the growing cities of Iligan and General Santos in the
southern island of Mindanao.

The total cost of this project is estimated at $64.2 million.
the Australian Agency for International Development will provide
an $11.5-million grant to support the project with the rest
coming from the national and local governments, the Manila-based
ADB said.

Two loans, each amounting to $15 million were also approved to
support a project to reduce rural poverty through increased food
production, an improved road network and an improved and expanded
irrigation system, the ADB added.

A $100,000 technical assistance grant was also approved for an
environmental evaluation of swamplands, the ADB said.