To help sustain the Philippine economy’s recovery from pandemic-driven recession, the Asian Development Bank (ADB) gave the green light to a USD400-million policy-based loan aimed at further deepening the country’s domestic capital markets and increasing the supply of long-term finance, especially for infrastructure development. The Support to Capital Market-Generated Infrastructure Financing Program, Subprogram 2, is helping build an efficient domestic debt market and increase institutional participation in the market, especially from insurance and pension funds. More supply of long-term finance will help address the country’s infrastructure financing gap, estimated at roughly USD40bn up to 2030.
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