ADB commits to improved collaboration with WB in PHL

The Japan-led Asian Development Bank (ADB) on Monday committed to  "improved" collaboration with the World Bank in the Philippines, as well as other countries across the Asia Pacific region.

"In the Philippines, ADB is already collaborating with the World Bank on the implementation of the government’s conditional cash transfer program and the rehabilitation and recovery efforts in Marawi, among others," ADB President Takehiko Nakao said in an emailed statement.

"We can do better, and will take concrete steps to further improve the process."

The ADB in December last year approved $408 million or P21 billion worth of financing to rebuild and rehabilitate war-torn Marawi, as well as for the livelihood of its residents.

Of the total amount, $300 million will go to the Emergency Assistance for Reconstruction, and $100 million will finance the improvements in the area's infrastructure.

"ADB is responding to the Philippine Finance Secretary Mr. Carlos G. Dominguez III’s call for us to become more efficient, responsive, and better coordinated with the World Bank and other multilateral development banks to meet the changing needs of our client countries," said Nakao.

According to the ADB, Dominguez recently wrote Nakao to ask the multilateral lender to promote its position as the region's premier multilateral institution and expand collaboration with the World Bank.

In May, the ADB hosted a meeting chaired by the Department of Finance, and joined by the World Bank, during which they discussed ways to strengthen collaboration in support of government priorities.

Immediate focus areas included tourism development, ocean pollution, disaster risk management, post-conflict resolution, and improving local government's ability to deliver public services.

In 2018, Nakao said the ADB was looking at increasing its annual lending to the Philippines to $2.5 billion from 2019 to 2022, compared to the previous$1.3 billion. — Jon Viktor Cabuenas/DVM, GMA News