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Manila Bulletin devider Business devider Banking & Finance devider Philippines to repay two newest ADB loans until 2040

Philippines to repay two newest ADB loans until 2040

Published Jan 13, 2026 07:00 pm  |  Updated Jan 13, 2026 03:23 pm

Before 2025 ended, the Philippines signed two loan agreements with the Manila-based multilateral lender, Asian Development Bank (ADB), worth nearly $900 million, committing to repay debts that will run until 2040.

Documents seen by Manila Bulletin showed that newly appointed Finance Secretary Frederick D. Go signed the two loan agreements on behalf of the Philippine government together with ADB country director Andrew Jeffries on Dec. 26, 2025.

Since taking office in November 2025, these were the first two loans signed by the new Department of Finance (DOF) chief: the Business Environment Strengthening with Technology (BEST) Program-Subprogram 1, and the Marine Ecosystem for Blue Economy Development Program-Subprogram 1.

Both loans were denominated in Japanese yen. The BEST Program loan amounts to 60.76 billion yen (around $382 million or roughly ₱23 billion), while the Marine Ecosystem for Blue Economy Development Program totals 75.95 billion yen (about $478 million or roughly ₱28 billion). Each loan has a principal repayment period of 12 years, running from 2029 to 2040, following a three-year grace period.

These were the last two loans approved by the ADB for its host country, the Philippines, in 2025.

The BEST Program seeks to create a more business-friendly environment by strengthening legal, regulatory, and institutional frameworks, reducing regulatory burdens, improving transparency, promoting investment in key sectors, and expanding digital government services for businesses.

The Marine Ecosystem for Blue Economy Development Program aims to support the development of resilient coastal and marine ecosystems to foster a thriving blue economy in the Philippines. It includes integrated and inclusive management of coastal and marine resources, improving plastic and solid waste management and circularity, and strengthening planning, budgeting, and investment in natural capital.

The DOF serves as the program-executing agency for both loans. For the BEST Program, the implementing agencies are the Anti-Red Tape Authority (ARTA), the Department of Trade and Industry-Board of Investments (DTI-BOI), and the Department of Information and Communications Technology (DICT).

For the Marine Ecosystem for Blue Economy Development Program, the implementing agencies include the Department of Environment and Natural Resources (DENR), Department of Economy, Planning, and Development (DEPDev), Department of Agriculture (DA), Department of the Interior and Local Government (DILG), Department of Trade and Industry (DTI), and the Philippine Statistics Authority (PSA), which is responsible for day-to-day implementation of the program.

Last year, Jeffries said that the ADB is preparing around $4 billion, or roughly ₱236 billion, in low-interest official development assistance (ODA) loans for the Philippines this year, supporting a strong pipeline of priority national projects.

Among this year’s pipeline, Jeffries said, are projects involving transport, health, education, and public financial management (PFM).

He added that the pipeline for 2026 includes both new projects and ongoing initiatives. “A lot are new,” he said, while “some carry over,” citing major infrastructure undertakings such as Bataan-Cavite Interlink Bridge (BCIB) and North-South Commuter Rail (NSCR).

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