President Ferdinand "Bongbong" Marcos has committed to ensure the "efficient and effective" use of foreign institutions' assistance to the Philippines under his watch.

Speaking at the 55th Annual Meeting of the Board of Governors of the Asian Development Bank (ADB) on Thursday, Sept. 29, Marcos thanked the regional development bank for its continued support to the country as he vowed to put these assistance to good use.

"As President, it is certainly my duty to ensure that the government remains committed in the efficient and effective utilization of this institution's assistance for the full benefit of all Filipinos," he said.

He also pledged that the government's relationship with the ADB under his administration will grow stronger.

"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.

Marcos recognized the the ADB for allowing the Philippines to access its quick disbursing budget support facility to aid countries in mitigating the severe economic shocks caused by the pandemic.

"It is through the bank assistance that we were able to push forward with projects in areas such as infrastructure, social reform, and community development in government and institutions development, all of which are consistent with this administration's 8-point socio agenda," he said.

The President also encouraged international counterparts and partners to work together for a better post-pandemic world.

"It is time for us to work together to bring about an even better normal. 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," he said.

Marcos' participation in this year’s annual meeting marks the commitment of the Philippines in ensuring the efficient and effective utilization of ADB’s assistance for the full benefit of all Filipinos, especially in coping with the challenges of the post-pandemic world.

It was attended by Sri Lankan President Ranil Wickremesinghe, ADB President Masatsugu Asakawa, ADB governors and alternate governors.

"I am truly excited to see the outcome of this meeting as we set sail towards a better tomorrow that is more resilient, more inclusive, more sensitive to our people's needs and more aware of climate change and the crisis that it brings with it," Marcos said.

Various issues on economic and social developments within Asia and the Pacific Region are discussed in the forum which also serves as an avenue to “provide guidance on ADB administrative, financial and operational directions."

It is the fourth day of the 55th ADB Annual Meeting where the discussion centers on managing Asia’s energy transition and pathways to sustainable green growth in the time of Covid-19 recovery.