ADB approves $30-M loan for PPP project preparation

The Asian Development Bank (ADB) has approved a $30-million loan to support the preparation of public-private partnership (PPP) projects in the country.

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In a statement yesterday, the multilateral lender said the loan would go to the Project Development and Monitoring Facility (PDMF), managed by the PPP Center, to support the design and implementation of bankable PPP projects.

The PDMF is a revolving fund for project preparation that is offered to develop projects and get them ready to move to the implementation stage.

Through the loan, the ADB will help enhance the capacity of implementing agencies and local government units (LGUs) to develop and manage PPP projects.

"The Philippines is considered one of the leaders in Asia-Pacific in the use of PPPs as a modality for addressing infrastructure gaps and pursuing sustainable growth and development," ADB Philippines country director Pavit Ramachandran said.

"Through this new loan, ADB is helping ensure the continuous preparation of bankable and feasible climate-resilient PPP projects in the country, as well as the availability of global expertise for successful PPP implementation," he added.