/ stevenwarran's Library/ Notes/ April 1, 2000, The Philippine Star, ADB commits to lend RP 235 million dollars, by Donnabelle L. Gatdula,
April 1, 2000, The Philippine Star, ADB commits to lend RP 235 million dollars, by Donnabelle L. Gatdula,
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April 1, 2000, The Philippine Star, ADB commits to lend RP 235 million dollars, by Donnabelle L. Gatdula,
DAVAO CITY -- The Asian Development Bank (ADB) has committed to provide $235 million for development projects in Mindanao for the period 2000 to 2003.
In a press conference, ADB officials confirmed this commitment saying the bank has been involved in the development of Mindanao since the 1960's. A $2.5-million loan for the Cotabato Irrigation Project approved in 1969 was among the very first few loans ever approved by ADB for its developing member countries (DMCs).
Since then, the ADB has provided 31 loans totaling $658.8 million exclusively for projects and programs located in Mindanao. The loans for projects in Mindanao (not accounting for Mindanao components of nationwide projects) account for 9.2 percent of total ADB loans to the Philippines.
The proposed $235 million loan to Mindanao for the next three years will finance four development projects such as Transmission Interconnection and Reinforcement (TIR), ($100 million); Mindanao Basic Urban Services Sector (MBUS), ($45 million); Mindanao Basic Education Development (MBED), ($50 million) and Mindanao Community-Based Forestry Resources Management Project (MCBFRMP); ($40 million).
The first two projects will be carried out this year and the remaining two by next year. The TIR will interconnect the Mindanao grid with the Luzon- Visayas grid through a Leyte-Mindanao sub-marine interconnection to establish an integrated national power system for the country. ADB plans to provide from its resources $100 million for this $626 million project.
In addition, ADB will assist the government in mobilizing $450 million co- financing from official and commercial sources for the project. The MBUS, on the other hand, aims to improve the quality of life urban residents in Mindanao by enabling the provision, upgrading and rehabilitation of basic municipal infrastructure and services covering water supply, sanitation and sewerage, drainage and flood control, solid waste management, urban road and bridges, etc. The project will cover 30 urban local government units in Mindanao.
The MBED project will include components for both physical investment and capacity building for improved basic education in Mindanao. According to ADB, special emphasis will be directed at development of Madrasas schools (Islamic schools) in Mindanao.
The last project is the MCBFRMP which is still in the feasibility study stage. Under this project, the international experts engaged by ADB are working together with their Filipino counterparts in the field to develop a community- based forestry resources management project in the provinces of Bukidnon, Davao del Norte, Davao del Sur, and Zamboanga del Sur, and the city of Davao for possible ADB loan financing.
It is expected that the experts will complete their field work and submit the project concept soon. The project proposal from this group will then be evaluated and reviewed by the government and ADB. The Philippines is one of the founding members of ADB whose main office located in Manila.
Over the past 33 years, ADB has provided 175 loans totalling $7.37 billion to support economic and social development programs and projects in the Philippines. Loans to the Philippines account for 8.7 percent of ADB's total lending to its 38 borrowing DMCs. Most ADB loans have been provided to support energy, transportation, agriculture and social development programs and projects.
Currently, 45 ADB loans with a total amount of $2.9 billion are under implementation in the Philippines. Aside from these loans, ADB has mobilized $4.2 billion co-financing resources from official and commercial sources for the Philippines.
In a press conference, ADB officials confirmed this commitment saying the bank has been involved in the development of Mindanao since the 1960's. A $2.5-million loan for the Cotabato Irrigation Project approved in 1969 was among the very first few loans ever approved by ADB for its developing member countries (DMCs).
Since then, the ADB has provided 31 loans totaling $658.8 million exclusively for projects and programs located in Mindanao. The loans for projects in Mindanao (not accounting for Mindanao components of nationwide projects) account for 9.2 percent of total ADB loans to the Philippines.
The proposed $235 million loan to Mindanao for the next three years will finance four development projects such as Transmission Interconnection and Reinforcement (TIR), ($100 million); Mindanao Basic Urban Services Sector (MBUS), ($45 million); Mindanao Basic Education Development (MBED), ($50 million) and Mindanao Community-Based Forestry Resources Management Project (MCBFRMP); ($40 million).
The first two projects will be carried out this year and the remaining two by next year. The TIR will interconnect the Mindanao grid with the Luzon- Visayas grid through a Leyte-Mindanao sub-marine interconnection to establish an integrated national power system for the country. ADB plans to provide from its resources $100 million for this $626 million project.
In addition, ADB will assist the government in mobilizing $450 million co- financing from official and commercial sources for the project. The MBUS, on the other hand, aims to improve the quality of life urban residents in Mindanao by enabling the provision, upgrading and rehabilitation of basic municipal infrastructure and services covering water supply, sanitation and sewerage, drainage and flood control, solid waste management, urban road and bridges, etc. The project will cover 30 urban local government units in Mindanao.
The MBED project will include components for both physical investment and capacity building for improved basic education in Mindanao. According to ADB, special emphasis will be directed at development of Madrasas schools (Islamic schools) in Mindanao.
The last project is the MCBFRMP which is still in the feasibility study stage. Under this project, the international experts engaged by ADB are working together with their Filipino counterparts in the field to develop a community- based forestry resources management project in the provinces of Bukidnon, Davao del Norte, Davao del Sur, and Zamboanga del Sur, and the city of Davao for possible ADB loan financing.
It is expected that the experts will complete their field work and submit the project concept soon. The project proposal from this group will then be evaluated and reviewed by the government and ADB. The Philippines is one of the founding members of ADB whose main office located in Manila.
Over the past 33 years, ADB has provided 175 loans totalling $7.37 billion to support economic and social development programs and projects in the Philippines. Loans to the Philippines account for 8.7 percent of ADB's total lending to its 38 borrowing DMCs. Most ADB loans have been provided to support energy, transportation, agriculture and social development programs and projects.
Currently, 45 ADB loans with a total amount of $2.9 billion are under implementation in the Philippines. Aside from these loans, ADB has mobilized $4.2 billion co-financing resources from official and commercial sources for the Philippines.
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