PBBM Calss for Sustainable, Responsive Economic Recovery

President Ferdinand “Bongbong” Marcos Jr. rallied for unity Thursday as the country gears toward post-pandemic economic recovery, which he said must be pro-environment, sustainable, and responsive to people’s needs.

Addressing the Asian Development Bank’s (ADB) 55th annual meeting of its board of governors at the Edsa Shangri-la Hotel in Mandaluyong City, Marcos said it is time for different sectors to work together to bring about an even “better normal.”

“I believe that at the heart of this goal is in the way that we must develop an economy that is green, that is sustainable, truly climate-resilient and responsive to people’s immediate needs,” he told ADB’s annual gathering.

“It is an economy that takes into account the ecosystem from which we harness our resources.”

According to the President, since ADB’s inception, it has been a reliable institution in providing loans, technical assistance, and equity investments to its members in promoting social and economic development.

He acknowledged and thanked ADB for being the Philippines’ steadfast partner in achieving its development goals.

At the onset of the coronavirus pandemic, the chief executive said ADB was one of the first institutions that provided assistance by granting $3 million to purchase medical supplies for frontline health workers.

“We also recognize ADB for allowing us to access the CARES Program — a quick-disbursing budget-support facility to aid countries in mitigating the severe economic shocks caused by the pandemic,” he said.

“Moreover, I am pleased to note that we share the same vision of building a brighter and more resilient future.”

Also, through the bank’s assistance, the country was able to push forward with projects in many areas such as infrastructure, social reform and community development, and governance and institutions development—which are all consistent with the administration’s 8-point Socioeconomic Agenda.

Marcos said he is excited to see the outcome of the annual meeting as the country sets sail towards a better, more resilient, and inclusive tomorrow that caters to people’s needs and puts more emphasis on the threats posed by climate change.

“As President, I will assure that the government’s relationship with the ADB can only grow stronger in the years to come, harnessing mutual cooperation to nurture development here in our country, together with our partners around the world and in the region,” he said.

ADB is a financial institution conceived in the early 1960s aimed at fostering economic growth and cooperation in Asia.

It envisions a prosperous, inclusive, resilient, and sustainable Asia and the Pacific and has been assisting its members and partners by providing loans, technical assistance, grants, and equity investments to promote social and economic development.

Also present were Sri Lankan President Ranil Wickremesinghe, Niue Premier Dalton Emani Makamau Tagelagi, Executive Secretary Lucas Bersamin, ADB President Masatsugu Asakawa, ADB Board of Governors, Finance Secretary Ben Diokno, and other members of the Cabinet. (PND)

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