MANILA, Philippines — President Ferdinand "Bongbong" Marcos Jr. cited the need to achieve a "better normal" as he pushed for an economy that is sustainable and responsive to people's needs.
"While many things remain uncertain, one thing is for sure: We can no longer return to the way things were. It is time for us to work together to bring about an even better normal," Marcos said during the 55th annual meeting of Asian Development Bank's board of governors yesterday in Mandaluyong.
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"I believe that at the heart of this goal is in the way that we must develop an economy that is green, that is sustainable, truly climate-resilient and responsive to people’s immediate needs. It is an economy that takes into account the ecosystem from which we harness our resources," he added.
Marcos reiterated the importance of forging partnerships as the world strives to recover from the COVID-19 pandemic.
"The partnerships once again that we will forge in these talks that we will be having after two and a half years of virtual meetings, I think, will really be lighting the way of what we are going to have to face in the near future as we navigate our way towards the new post-pandemic global economy," he said.
Marcos thanked the ADB for its efforts to address the impact of the pandemic, noting that the Manila-based lender was one of the first institutions to provide assistance with a grant of $3 million for the purchase of medical supplies for frontline health workers.
He also lauded the ADB for allowing the Philippines to access the CARES program, a quick-disbursing budget-support facility designed to help countries mitigate the severe economic shocks caused by the pandemic.
The ADB, Marcos added, also enabled the country to push forward with infrastructure, social reform and community development and governance and institutions development projects that are in line with his administration’s eight-point socioeconomic agenda.
"We must always acknowledge the ADB for being the steadfast partner in achieving the Philippines’ development goals," the president said.
Marcos assured the ADB that the government remains committed (to) the efficient and effective use of its assistance for the full benefit of all Filipinos.
"As President, I will assure that the government’s relationship with the ADB can only grow stronger in the years to come, harnessing mutual cooperation to nurture development here in our country, together with our partners around the world and in the region," he said.
According to the ADB website, more than half of the Manila-based lender's $2.2-billion total loan commitments to the Philippines in 2021 focused on boosting the country’s health care service delivery The funding helped the Philippine government buy life-saving COVID-19 vaccines for its national vaccination program.
ADB said it has committed 612 public sector loans, grants, and technical assistance totaling $27.4 billion to the country.