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ADB boosts sovereign lending to aid Philippine economic development

The bank wants to support education and job creation programmes for youth and the growth of capital markets

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ADB president Takehiko Nakao (left) said the ADB was pleased with the progress Manila was making in its public-private partnership programme and pledged the bank's continued support. Philippine Finance Secretary Cesar Purisma said his country was "writing a comeback story of growth and better governance".

Tokyo

THE Asian Development Bank (ADB) announced on Tuesday that it will substantially boost its sovereign lending to the Philippines over the next few years, so that the bank's host country can finance infrastructure projects and a range of social and other services.

ADB president