After more than two years of grappling with the effects of a deadly virus, President Ferdinand "Bongbong" Marcos Jr. said the Philippines can now shift its focus from fighting Covid-19 to developing the economy and improving the lives of Filipinos.

President Ferdinand 'Bongbong' Marcos Jr. (Noel Pabalate)

Marcos said this during the reception hosted for him by the Asian Development Bank (ADB) at its headquarters in Mandaluyong City on Monday morning, May 22.

In his speech, the President noted that the World Health Organization (WHO) has declared that Covid-19 no longer represents a "global health emergency." With this, he said the country can now focus on the economy.

"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," he said.

"We can now refocus our priorities on the development of our economy and the betterment of the lives of ordinary Filipinos," he added.

Marcos stressed to the ADB's Board of Governors the need for the Philippines to safely navigate the waters of the post-pandemic world.

He said that despite the challenges of Covid-19, the pandemic did not blur the country's vision.

"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," Marcos said.

"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," he added.

President Marcos said he presented to the ADB his administration's Philippine Development Plan for 2023 to 2028, which aims to achieve economic prosperity, inclusivity, and resilience, as well as develop and protect the capabilities of individuals and families and transform production sectors to generate more quality jobs and competitive products.

"To facilitate the whole transformation process, these must be firmly implanted on the foundation of an enabling government environment that encompasses key aspects and sectors such as peace and justice, infrastructure, inclusive finance, good governance, and climate and disaster resilience," he said.

"We will ensure that the plans and projects are stringently and are timely executed," he added.

According to the ADB 2022 Annual Report, the Philippines received US$2.99 billion in financial assistance last year, the fifth-largest among its member countries.

Established in 1966, the ADB is a regional development bank created to promote economic and social progress in Asia and the Pacific by providing loans, technical assistance, grants, and policy advice to its 68 member countries.

Since joining the ADB in 1966, the Philippines has become one of the largest recipients of ADB assistance, receiving more than US$20 billion in loans, grants, and technical assistance.

According to Malacañang, ADB's assistance to the Philippines has supported a wide range of development initiatives, including infrastructure development, poverty reduction, education, health, and disaster risk management, among others.