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Know the ADB Loans and FEM, One of its Founders

loans





By: Elena Grace Flores




Sa Iyong Araw
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ADB Loans

Philippine President Ferdinand Marcos, Jr. is observed to have special talks with Asian Development Bank, the largest bank in Asia. Its headquarter is in Manila. The Philippine President recently had a meeting with its council. This causes speculations about the Marcos gold apart from the loans for the country’s development.


Purpose of the ADB

Helping member countries to get out of poverty is ADB’s purpose. It will assist the development of the 67 member countries through loans to augment the people’s lifestyle in the regions. It is not a surprise that some of the Marcos gold is deposited here.



Marcos’ Speech

The late President Ferdinand E. Marcos was one of the founders of the ADB. In his speech, he said that the inauguration of the Asian Development Bank in 1966 in the country will surely be remembered as one of the very auspicious events in the history of the region.  The choice of the Philippines as a venue for the organization means its commitment to fighting poverty, ignorance, and diseases.  Thus, helping poor nations.



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