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Manila Bulletin devider Business devider The Economy devider ​​Philippines to receive $400-million ADB loan to boost blue economy

​​Philippines to receive $400-million ADB loan to boost blue economy

Published May 28, 2025 10:58 am  |  Updated May 28, 2025 01:07 pm

At A Glance

  • The Philippines will receive a $400-million, or about ₱23.4 billion, loan from the Asian Development Bank (ADB) to restore marine ecosystems and strengthen its blue economy, as part of the bank's $24-billion support package for Southeast Asia through 2028.
The Philippines will receive a $400-million, or about ₱23.4-billion, loan from the Asian Development Bank (ADB) to restore marine ecosystems and strengthen its blue economy, as part of the lender’s $24-billion support package for Southeast Asia through 2028.
ADB President Masato Kanda announced at the Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA) Summit that the Manila-based multilateral bank has such upcoming multi-billion-peso loan for the Philippines.
This loan takes a portion of the ADB’s $24 billion support for the Southeast Asian region until 2028, or the end of the Marcos administration.
The ADB’s lending plan for the next three years would focus on “deepening regional cooperation and integration.”
“This includes expanded investments to strengthen connectivity, private sector-led growth, energy integration, and food security,” the ADB said in a statement released on Wednesday, May 28.
Such a plan would support the region as, Kanda said, it is currently “navigating the impacts of trade and geopolitical tensions, rapid technological change, and growing threats to food and energy security.”
However, Kanda argued that these setbacks also offer opportunities to firm up the region’s resilience and drive growth.
“Our longstanding partnerships will help us turn obstacles into new pathways for progress,” Kanda said.
To help strengthen food systems, the ADB is raising its funding to $40 billion by 2030. In the BIMP-EAGA subregion—considered as the Association of Southeast Asian Nations’ (ASEAN) food basket—the ADB has poured in $500 million for agricultural development, $93 million for sustainable aquaculture, and another $500 million to tackle plastic waste in the ocean.
The ADB also said that it is ready to provide $10 billion in financing to support the ASEAN power grid, focusing on cross-border power links, national grid upgrades, and the expansion of renewable energy (RE) across the region.
The ADB refers to the “blue economy” as the sustainable use of ocean and coastal resources to drive economic growth and improve livelihoods, while protecting and nurturing marine ecosystems.

Related Tags

Asian Development Bank (ADB) Masato Kanda Association of Southeast Asian Nations (ASEAN) BIMP-EAGA blue economy
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