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Manila Bulletin devider Business devider Banking & Finance devider Philippines secures $4.25-billion ADB financing in 2025, second largest among members

Philippines secures $4.25-billion ADB financing in 2025, second largest among members

Published Apr 23, 2026 06:15 pm

Concessional financing extended by the Asian Development Bank (ADB) to the Philippines, its host country, in 2025 ranked second largest among the multilateral lender’s developing member countries (DMCs), reaching $4.25 billion or over ₱256 billion.

The Manila-based ADB’s 2025 annual report, published on Thursday, April 23, showed that the sovereign as well as private-sector loans and grants approved for the Philippines were only exceeded by India’s more than $5.3 billion.

The majority of ADB lending to the Philippines last year was secured by the government, amounting to more than $4.1 billion, while the private sector availed of $129.8 million in loan and equity financing.

The 2025 loans availed by the Philippine government from the ADB were as follows: the $1.45-billion financing representing the second tranche of the lender’s support for the Malolos-Clark Railway; $500 million for the Business and Employment Recovery Program (Subprogram 2); $381.5 million for the Insurance Reform Program (Subprogram 1); $500 million for the Second Disaster Resilience Improvement Program; $400 million for the Reducing Food Insecurity and Undernutrition with Electronic Vouchers Project; $483.6 million for the Marine Ecosystems for Blue Economy Development Program (Subprogram 1); and $388.9 million for the Business Environment Strengthening with Technology Program (Subprogram 1).

For the private sector, the ADB extended a $29.8-million loan to Fuse Enabling Financial Inclusion Through GCash’s Online Lending Platform, as well as infused $100 million in equity into the initial public offering (IPO) of Maynilad Water Services Inc., in what the lender dubbed—as Manila Bulletin’s business newsletter reported earlier—“Project Tulip.”

The remaining $13.6 million was drawn from the bank’s regional Trade and Supply Chain Finance Program (TSCFP).

In all, the ADB’s loans to its DMCs totaled $28.99 billion last year.

The Philippines also availed of $10.2 million worth of ADB technical assistance in 2025.

When co-financing with other bilateral and multilateral institutions is included, total ADB-linked support to the Philippines last year reached $6.81 billion, the highest among its DMCs.

The ADB report showed its counterparts co-financed $2.55 billion worth of Philippine projects in 2025.

For 2026, the ADB rolled out a comprehensive assistance package to support the country’s Association of Southeast Asian Nations (ASEAN) chairmanship.

The ADB said in the report that the Philippine economy sustained its “dynamic” post-pandemic recovery momentum last year, even as annual gross domestic product (GDP) growth slowed to a post-pandemic low of 4.4 percent in the aftermath of the flood-control infrastructure corruption scandal, which tempered public spending and investor confidence in the country.

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