President Marcos has expressed his gratitude to the Asian Development Bank (ADB) for its "vote of confidence" for the Philippines' progress as it commits $12 billion to bolster support and address key constraints in the country over the next six years.

Marcos said this as he led the launch and ceremonial turnover of the ADB Philippines Country Partnership Strategy (CPS) for 2024-2029 in Malacañan on Thursday, Sept. 12.

In his speech, the President thanked ADB for being a reliable partner in Philippine development for almost six decades.

"Thanks to the ADB we're not just talking about progress, we are now on the path to achieving it. Your contributions have turned hope into reality and made a profound difference in countless lives here in the Philippines. For that, we are very grateful," he said.

"With almost $9 billion in net commitment for the Philippines as of mid-2024, it is the country's top multilateral development partner and second-largest source of official development assistance," he noted.

The CPS serves as a transformative agenda for the country over the next six years as the government continues implementing programs toward a more prosperous, inclusive, and climate-resilient future for all Filipinos, especially the vulnerable, across the nation.

Anchored in the long-standing partnership between the Philippines and ADB, the CPS focuses on three critical areas and priorities to ensure inclusive growth for the country: strengthening human development, boosting economic cooperation, and quality infrastructure, while boosting nature-based development and disaster resilience.

According to President Marcos, the government must use ADB's "generous backing" to implement programs that would improve the lives of Filipinos.

"The ADB's commitment of over 12 billion dollars for the next three years is a precious vote of confidence in our shared vision for a brighter and better Bagong Pilipinas," he said.

"The task before us is clear: we must turn this generous backing into meaningful outcomes, better social services, improved infrastructure, and a more resilient economy," he added.

Marcos said the new CPS for 2024-2029 paints an economy where growth translates into real benefits for everyday Filipinos such as smoother commutes, quality education, and an accessible healthcare system.

"This strategy is about turning lofty goals such as those into tangible improvements in the daily lives of our people," he said.

"Today, we're not just talking about progress, we are delivering it with clear, impactful actions," he added.

Under the new strategy, Marcos said the ADB is laying the groundwork for a better future, especially since the Philippines is highly vulnerable to climate change and natural hazards that threaten to cause significant damage to livelihoods and families.

"With annual economic losses due to climate change exposure potentially reaching 7.6 percent of GDP by 2030, it is a critical challenge," he said.