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Manila Bulletin devider Business devider The Economy devider Philippines to repay ADB up to 2053 for Marcos' $400-million 'Walang Gutom' program loan

Philippines to repay ADB up to 2053 for Marcos' $400-million 'Walang Gutom' program loan

Published Sep 12, 2025 02:11 pm
The Philippines will repay until 2053 its latest $400-million (nearly ₱23-billion) loan from the Manila-based Asian Development Bank (ADB) that supports the Marcos Jr. administration’s “Walang Gutom” Food Stamp Program.
Documents showed that Finance Secretary Ralph G. Recto, on behalf of the Philippine government, and former ADB Philippines country director Pavit Ramachandran signed the loan agreement dated Aug. 28, 2025, which contained the terms of the financing for the Reducing Food Insecurity and Undernutrition with Electronic Vouchers Project.
This project, which is targeted for completion by end-July 2028, aims to deliver electronic food vouchers to 750,000 food-insecure household across the country each month. Its loan financing will close, or should be fully disbursed, on Jan. 31, 2029.
The loan takes effect 90 days upon signing the agreement. Its principal will be repaid for 19 years starting 2035—in installments every February and August—until 2053, following the 10-year grace period.
Besides amortization, the government will also pay a 0.6-percent interest less a 0.1-percent credit, plus a 0.2-percent maturity premium. Also, a 0.15-percent-per-annum commitment charge shall be paid to the ADB.
The loan agreement noted that this project financing, to be implemented by the Department of Social Welfare and Development (DSWD), targets to increase the access of poor and vulnerable Filipinos, especially children and women, to nutritious as well as affordable food.
Following the ADB board approval of this loan last month, the lender noted in a statement that poverty and food insecurity have left almost 30 percent of Filipino children aged below five years old stunted, costing the economy an estimated $8.5 billion annually.
Stunted children are smaller in height compared to healthier same-aged kids.
The ADB, in partnership with the United Nations World Food Program (WFP), supported the DSWD via technical assistance in piloting electronic voucher delivery in five locations from December 2023 to July last year.
Alongside electronic food vouchers, beneficiaries will join monthly sessions to improve nutrition behaviors and knowledge, while the project also aims to boost government capacity for shock-responsive social protection to better support households during disasters and economic shocks, according to the ADB.
This is the fourth loan agreement signed by Recto with the ADB this year, following agreements for the $1.45-billion Malolos-Clark Railway Project-Tranche 2 in April; the $500-million Business and Employment Recovery Program-Subprogram 2 in March; and the also $500-million Second Disaster Resilience Improvement Program in February.
The second loan tranche for the Malolos-Clark Railway Project will also be repaid by the Philippines until 2053.
Loan amortization for the Business and Employment Recovery Program will be payable until 2039.

Related Tags

Asian Development Bank (ADB) Ralph G. Recto Department of Social Welfare and Development (DSWD) Walang Gutom Program
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