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PBBM: ADB Loans are the First to Take Care of Medical and Infrastructure Expenses

loans





By: Elena Grace Flores




UNTV News and Rescue
[VIDEO]: President Bongbong Marcos assures Filipinos that they will benefit from ADB Provisions



ADB Loans

Now it’s out. ADB loans take care of medical and infrastructure expenses. Particularly the Build Build Build projects. Other speculations floated but the Japanese contractors themselves attest that they get checks from the Asian Development Bank. It’s a branch of the World Bank.


Not Loans from China

Contrary to some media reports, the infrastructure projects did not get loans from China. The ADB was the first to give assistance to the project, clarified PBBM. He assures the Filipinos that the country will benefit from the bank’s provisions.



The ADB and World Bank

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific while sustaining its efforts to eradicate extreme poverty. Is ADB part of the World Bank?
It was modeled closely on the World Bank and has a similar weighted voting system. The votes are distributed in proportion to members’ capital subscriptions.



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