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On Thursday, President Ferdinand “Bongbong” Marcos Jr. committed to using funding assistance from the Asian Development Bank (ADB) properly and efficiently as part of the government’s efforts to enhance the lives of Filipinos.

Marcos made this call at the EDSA Shangri-La Hotel in Mandaluyong City on the fourth day of the 55th Annual Meeting of the Board of Governors of the ADB, promising to leverage cooperation with the multilateral lender in order to create a “progressive” and “inclusive” future.

He characterized the multilateral lender as “a reliable organization in providing loans, technical help, and equity investments to its members to foster social and economic growth.”

“We must constantly thank the ADB for being a dependable partner in accomplishing the development goals for the Philippines. As President, it is unquestionably my responsibility to ensure that the government continues to be committed to using this institution’s support efficiently and effectively for the full benefit of all Filipinos, he added in his speech.

Marcos highlighted ADB’s efforts to lessen the effects of COVID-19, highlighting that it was among the first organizations to offer support with a grant of USD 3 million to purchase medical supplies for frontline healthcare workers.

I appreciate you for that on behalf of the Filipino people,” he remarked.

He thanked ADB for granting the Philippines access to the Covid-19 Active Response and Expenditure Support (CARES) program, a fast-disbursing budget support facility to help nations mitigate the severe economic shocks brought on by the pandemic.

The Philippines and ADB, according to Marcos, have the “same vision” of constructing a more promising and resilient future, which makes him happy to hear.

“We were able to advance initiatives in sectors like infrastructure, social reform, community development, government and institutions development, all of which are aligned with this administration’s 8-point societal agenda, thanks to the bank aid,” he continued.

He expressed faith that their common objectives will strengthen their relationships and inspire hope in the communities they serve.

As we head towards a better future that is more resilient, inclusive, sensitive to the needs of our people, and mindful of climate change and the problem it brings, he said, “I am very pleased to see the outcome of this summit.”

In the meanwhile, Marcos underlined the necessity of collaboration to create an economy that is “green,” “sustainable,” “climate resilient,” and “sensitive to people’s urgent needs” to reach a “better normal.”

What other international institutions on our shores come to mind that do that support better than the ADB?, he said. “It is an economy that considers the ecosystem from which we harness our supplies.”

Additionally, he stated that he was looking forward to engaging in discussions about a variety of topics that concern not only the Philippines but also the rest of Asia and the Asia Pacific Region, as well as creating alliances that would aid in the recovery of both the nation and region from the effects of the Covid-19 pandemic.

After two and a half years of virtual meetings, he said, “I believe the alliances we will once again form in these conversations will be lighting the path of what we have to face shortly as we navigate our way towards the new post-pandemic global economy.”

The Annual Meeting of the Board of Governors of the Asian Development Bank (ADB) is a prestigious forum where various topics about economic and social developments in the Asia and Pacific Region are discussed as well as an opportunity to “guide ADB administrative, financial and operational directions.”

Managing Asia’s Energy Transition and Pathways to Sustainable Green Growth in the Time of Covid-19 Recovery were the main topics of discussion on the fourth day of the forum.

Participants include delegation heads, ADB governors, alternate governors, and important Philippine government figures.

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