Outgoing ADB president gets highest civilian honor

MANILA, Philippines — President Durterte recently awarded  outgoing Asian Development Bank (ADB) president Takehiko Nakao the Order of Sikatuna, the Philippines’ highest civilian recognition, with the rank of Grand Cross, or Datu, gold distinction.

The government recognized that under Nakao’s leadership, the ADB recognized the administration’s capability to carry out projects that will pave the way for rapid and inclusive growth by increasing its lending commitment for infrastructure, enhancing the local business climate, promoting countryside development, and achieving lasting peace in Mindanao.

The Order of Sikatuna was established in 1953 by former president Elpidio Quirino as the country’s national order of diplomatic merit. It is given to individuals who have rendered exceptional services to the Philippines in developing and strengthening relations with the country.

“As our host country since ADB’s establishment in 1966, the government’s support of ADB over the years has been essential to the success of our operations throughout Asia and the Pacific. ADB has been a strong development partner of the Philippines since the country became a founding member, with our support considerably expanding in the last three years,” said Nakao.

He also also cited the highly successful 2018 ADB annual meeting hosted by the Philippine government.

Nakao assumed office as ADB president on April 28, 2013.

ADB has been supporting the Duterte administration’s Build Build Build (BBB) program and the 10-point socioeconomic agenda including rural development and investment in human capital.

Its sovereign lending to the Philippines reached a record high of $2.5 billion in 2019, building on $1.4 billion in 2018, compared with an annual average lending commitment of about $800 million in the previous years.

ADB has also provided knowledge support to the government on its tax reform initiative and K-to-12 extension of school years up to senior high school.

In 2019, about half of ADB’s assistance financed the first phase of the Malolos–Clark Railway Project, one of the government’s major infrastructure investment. ADB’s support for the project, which is expected to be partially operational in 2022, will total $2.75 billion, making it ADB’s largest project financing in Asia to date. Construction work is expected to begin in the second quarter of 2020.

The new Philippines Country Partnership Strategy for 2018–2022, designed under Nakao’s leadership, paves the way for providing considerably larger assistance to the country. ADB’s planned assistance through 2022 includes a significant number of major infrastructure projects, such as railways, bridges, flood risk management, and irrigation.

In addition, ADB will support the government’s Bangsamoro peace process through lending and technical assistance. ADB will also support policy reforms to improve the country’s investment climate, public financial management, and local economic development.

Nakao will step down as ADB president on January 16. He will be succeeded by Masatsugu Asakawa, Vice Minister of Finance for International Affairs of Japan.