ADB steps up financing for Philippines water projects

The Asian Development Bank (ADB) has outlined new plans to finance $770 million of water-related projects in the Philippines to 2019, reports Business Mirror.

The investment covers $100 million for the Metro Manila Wastewater Improvement Project, for which financing could be approved by 30 May 2018.

ADB aims “to promote more innovative and transformative technology in water projects,” sustainable development and climate change department deputy director general, Amy Leung, told Business Mirror.

The other works comprise, in 2017, a $70 million solid waste management project, and $100 million for Mindanao Development Programme; and in 2019, $100 million for Angat Water Transmission Improvement Project, Phase 2, and $400 million for Lake Laguna Flood Management/ Integrated Water Resource Management Programme.

ADB will also support privately-financed projects.