President Marcos hailed the Asian Development Bank's (ADB) ongoing support for the Philippines, saying their assistance has significantly contributed to its economic development.

Marcos said this during the courtesy call of newly elected ADB president Kanda Masato in Malacañan on Wednesday, Feb. 26.

During their meeting, the President recalled the ADB's long-standing support for the Philippines, which started during his late father's administration.

He described the ADB as the Philippines' "most important partner."

"The partnership between the ADB and the Philippines has been tremendous," Marcos said.

"The development that we have achieved that being assisted by the ADB, which is the most important partner that we have had in the Philippines," he added.

Among the current initiatives funded by the ADB include the Bataan-Cavite Interlink Bridge Project, the Davao Public Transport Modernization Project, the Climate Change Action Program, the Build Universal Health Care Program, the Health System Enhancement to Address and Limit Covid-19 (HEAL) Project, the Competitive and Inclusive Agriculture Development Program, and the Walang Gutom 2027: Food Stamp Program.

"We find that in the last years, recent years, that has even increased. And so, I think, it is very encouraging, very promising," Marcos said.

The ADB was inaugurated in Manila on Dec. 19, 1966. From the founding 31 members, the ADB now has 69 members, 49 of which are from Asia.

Kanda officially started his term as the 11th ADB president on Feb. 24. He is set to complete the remaining term of previous president Asakawa Masatsugu which will expire on Nov. 23, 2026.