The Asian Development Bank has vowed to support President-elect Ferdinand “Bongbong” Marcos Jr. and his administration’s initiatives after ADB President Masatsugu Asakawa met with him on Monday, June 13.

“The Philippines is a key partner for ADB. We have worked together to promote the country's development since the founding of ADB in 1966 and our relationship stretches beyond the Philippines. We are grateful to the government and the Filipino people for hosting the ADB headquarters for more than five decades and supporting our efforts across the Asia and Pacific Region. I assured President-elect Marcos of ADB's strong commitment to supporting his administration's development policies,” said Asakawa in a statement on June 13, following his courtesy call with Marcos.

While the ADB has 42 field offices throughout Asia, and representative offices in Washington, Frankfurt, Tokyo, and Sydney, its headquarters is based in Mandaluyong City.

The ADB vowed to support the ‘Build, Build, Build’ initiative which Marcos has also adopted as a platform; food security; Filipino welfare; and pro-environmental initiatives.

“ADB is working closely with the government, development partners, and the private sector to support infrastructure investment, including projects under the government’s ‘Build, Build, Build’ program; promote sustainable agriculture development and food security; and invest in Filipinos’ welfare. As we prepare our next country partnership strategy for 2024-29, we will be exploring opportunities with the incoming administration’s priorities on climate change action to support a resilient and green economic recovery, climate-smart transportation, and continuing investments in education, vocational skills training, employment programs, health promotion, and social protections,” he continued.

ADB’s President added that Marcos had been invited to the ADB’s 55th Annual Meeting as a guest of honor.

“ADB’s 55th Annual Meeting will be held at our headquarters in Ortigas Center at the end of September with the participation of finance ministers, central bank governors, and other senior officials from ADB’s 68 members. I expressed my appreciation to President-elect Marcos for the Philippine government’s support in preparing for the Annual Meeting and invited him to attend as a guest of honor. We look forward to working closely with the new administration to ensure the meeting is an effective venue for proactive, solutions-oriented discussion around the key development challenges and opportunities in our region,” concluded Asakawa in his statement.