ADB approves $200-M loan to PH for 4PS program

Published April 28, 2020, 12:00 AM

by manilabulletin_admin

By Rizal Obanil

The Asian Development Bank (ADB) approved on Monday the Philippine government’s $200-million loan to help fund the cash subsidies of the Pantawid ng Pamilyang Pilipino Program (4Ps) beneficiaries for the months of April and May.

A worker walks past inside the Asian Development Bank (ADB) headquarters in Manila June 17, 2009. (REUTERS/Cheryl Ravelo / MANILA BULLETIN)
A worker walks past inside the Asian Development Bank (ADB) headquarters in Manila June 17, 2009. (REUTERS/Cheryl Ravelo / MANILA BULLETIN)

ADB said that the loan will become part of the $726-million that the government needs to raise to continue to provide assistance to 4Ps beneficiaries for the next two months.

“The new loan supports the government’s emergency subsidy program, which was designed to help vulnerable households get through this very difficult period and avoid falling into poverty,” ADB Vice President Ahmed Saeed said in an interview with GMA-7.

The implementation of the enhanced community quarantine has been extended for areas in Luzon where there are still many coronavirus disease 2019 until May 15.

Metro Manila where many 4Ps beneficiaries are located, has been identified as one of those areas.

Many sectors are clamoring for a gradual transition to a more relaxed lockdown, which allows certain essential businesses and workers to resume operations.

The loan is expected to stem the tide, while Luzon slowly transitions to general community quarantine and eventually to a total lifting of the community quarantine.

ADB and the Philippine a $1.5-B agreement to support the government’s efforts to stop the spread of COVID-19.

 
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