Marcos counting on ADB support for economic development

MANILA, Philippines — President Marcos is counting on the support of the Asian Development Bank (ADB) for his economic, climate and social welfare initiatives – including a food stamp program that seeks to address hunger – as the government shifts its priorities due to the lifting of COVID-19’s global health emergency status.

Speaking at the ADB headquarters in Mandaluyong yesterday, Marcos said that while the World Health Organization’s downgrading the COVID-19 threat did not lead to the abandonment of health protocols, it “certainly gave the world the assurance that perhaps the worst is over.”

“With this development, we can now refocus our plans and priorities and train our sights with renewed vigor, carefully guided by the stinging lessons of the pandemic. We can now refocus our priorities on the development of our economy and the betterment of the lives of ordinary Filipinos,” the President said.

“The pandemic did not blur our national vision that was already very clear to us even before its supervene. Our goal remains to be the same as in pre-pandemic circumstances. Our goal is to evolve our economy into one that is defined by sustainability, climate resilience, responsiveness and of course inclusivity,” he added.

Marcos said he highlighted the need for the Philippines to “safely navigate through the waters of the post-pandemic world” and to firmly anchor its economy not just on the new normal but on the better normal during his meeting with the ADB board of governors last September.

He said he had also discussed his administration’s eight-point socio-economic agenda, which aims to lift the country from the pandemic’s economic setbacks; achieve economic prosperity, inclusivity and resilience; develop and protect the capabilities of individuals and families and transform production sectors to create more quality jobs and more competitive products.

“As we carry forward to the concept of better normal under the post-pandemic circumstances, our vision for the Philippines is for it to be able to provide a comfortable, secure life to its citizens; for us to be able to be self-sufficient in basic needs and essential services, sustainable in our strategies, vibrant industries and investment propelling our economy,” the Chief Executive said.

“It is our continuing and collective hope that the ADB will continue to be there by our side to lend its support throughout our transformative journey.”

Marcos described the ADB as a “steadfast ally for nearly six decades now, ever reliable and unparalleled in its developmental assistance programs that have spanned across many political cycles.”

“We say all hands on deck in order to make the plan work. Whole of government and whole of society approaches, public private partnerships, international collaborations shall be adopted as necessary. We will engage our tried and tested and dependable partners and allies to help us out, in this, that can only be described as a monumental exercise,” Marcos said.

He assured the Manila-based lender that the government would use the loans and other technical assistance provided to the country judiciously.

“The Philippines stands to greatly benefit from this mutually beneficial relationship with the ADB. We are aware of the responsibilities that this relationship carries with it. But we will re-echo my father’s words during the ADB inauguration some 57 years ago, we will meet those responsibilities. We will ensure that the plans and projects are stringently and are timely executed,” he added.

Food stamp

Speaking to reporters, Marcos said he and ADB president Masatsugu Asakawa discussed programs being implemented and those still in the pipeline during a meeting held before the reception.

Among the initiatives that may be funded by the ADB is a food stamp program proposed by the Department of Social Welfare and Development (DSWD).

“One of the things that is in the pipeline, that is being developed, that is going to be of great assistance to our people is a proposal by the DSWD for a food stamp program, which I’m surprised that we have never had, but it is something that we can see that has been effective in other countries,” Marcos said.

Earlier this year, Social Welfare Secretary Rex Gatchalian announced a plan to implement a food coupon program to reduce the hunger incidence in the Philippines. The food stamps may be used by beneficiaries to buy food in grocery stores and supermarkets, the agency said.

Marcos said the ADB and the Technical Education and Skills Development Authority also have a partnership for the digitalization of civil service.

“The ADB has given us so many opportunities, not only in these projects that we are discussing but we are given more so in what has been done since ADB was brought here to Manila and they have been an essential part of all our development plans and they have been a robust and strong and reliable partner in the development of the Philippines,” he said.

“Traditionally, ADB has provided assistance to infrastructure. Now the scope of the ODA (official development assistance) that we get through ADB has increased and we are now talking about agriculture, we are talking about reskilling and retraining, we’re talking about climate change and its mitigation and adaptation.”

Marcos thanked the ADB for its assistance, noting that the multilateral lender is now the Philippines’ largest source of ODA financing.

Climate resilience

Marcos also cited the importance of supporting climate resilience initiatives, noting that the Philippines was found to have the highest disaster risk among 193 countries in the World Risk Report 2022.

He added that the Philippines, which lies along the typhoon belt and the Pacific “ring of fire,” is also preparing for the El Niño phenomenon and the “Big One.”