The Asian Development Bank (ADB) said it would continue to finance new development projects in the Philippines, underscoring its confidence in its project monitoring mechanisms despite the government’s struggles with infrastructure funding.
“All of our projects have audited project-level financial statements from an auditor acceptable to ADB. So, we have all these things in place to make sure our project funds go where they’re meant to go,” Andrew Jeffries, ADB’s country director for the Philippines, said on the sidelines of the Arangkada Philippines Investment Forum 2025 on Thursday.
Jeffries said that while Department of Public Works and Highways (DPWH) Secretary Vince Dizon had halted several government-funded flood control projects because of procurement and funding issues, ADB-backed initiatives were unaffected.
“Secretary Dizon has not stopped foreign projects because he has confidence in our close oversight,” Jeffries said.
The ADB has one flood protection project covering two river basins in Mindanao and one in northern Luzon, with another large-scale project still in the planning stage. The bank is also conducting river basin master planning for 13 sites across the country in preparation for future flood management investments.
“We don’t shy away from problems. Our role is to help our developing member countries solve problems,” Jeffries said, adding that the Philippines, as an ADB shareholder, remains a priority partner.
For the remainder of 2025, the ADB expects to secure board approval for several more projects, including the $500-million Business Environment Strengthening with Technology (BEST) program in partnership with the Anti-Red Tape Authority (ARTA) and the Board of Investments (BOI).
The BEST initiative aims to improve the business climate and regulatory efficiency through digital solutions, he said.
The ADB said it is also supporting waste management initiatives in Metro Manila, which Jeffries said could help address flooding in the capital by easing clogged waterways and ensuring pumping stations function effectively.
On concerns that counterpart funding from the Philippine government could slow project implementation, Jeffries clarified that the ADB does not approve projects until the Department of Finance has secured the necessary budgetary provisions.
“When we approve a project, it has already gone through the government’s budget exercises. The set-asides for the counterpart funds are already thought through before our approval,” he said.
