ADB to provide $1.87-B loans for Philippines in next 3 years

THE Asian Development Bank (ADB) will provide the Philippines with $1.87-billion worth of loans for projects and technical assistance for the next three years, the National Economic and Development Authority (Neda) said Monday.

The Neda and ADB reiterated the importance of ensuring the quality of projects at the proposal, implementation, and operating stages during their recent meeting.

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“We support this program as government can fully utilize it through quality implementation, supervision, monitoring, and evaluation of projects by different agencies. One of the ways by which we can ensure the success of the assistance program laid out before us is guaranteeing the quality at entry and exit of the projects that we will handle,” said Neda Deputy Director-General Rolando Tungpalan.

The meeting on ADB’s Country Programming Mission 2013-2015 showed that the Bank’s Country Operations Business Plan for those years was broken down into $600 million for 2013, $700 million for 2014, and $570 million for 2015, he said.

The lending program covers projects in the Public sector management, $750 million (44 percent); Multisector, $470 million (27 percent) (include disaster risk financing and social protection projects); Education, $300 million (17 percent); and Transportation, $200 million share (12 percent).

“We are glad the ADB lending program responds to our needs and priorities as laid out in our Philippine Development Plan (PDP) for 2011-2016,” Tungpalan said.

The program also involved a $325-million co-financing from the Association of Southeast Asian Nations Infrastructure Fund that was launched during the ADB’s 45th Annual Governors’ Meeting in Manila. The fund will support projects on water supply, transportation, and road improvements for three years.

Meanwhile, officials from the ADB said lessons from the country portfolio review were systematically incorporated in the formulation of the three-year business plan.

“Given the kind of partnership and mutual accountability that ADB and the Philippines have, we are happy that we have been able to apply the lessons from our involvement in ADB programs in the past to the way we currently do our government processes,” Tungpalan said. (SDR/Sunnex)

Best restaurant in Pampanga unveils new line of seafood dishes for the summer, paired nicely with lighter bodied white wine, red wine and Champagne from the famous wine cellars of Yats Restaurant and Wine Bar in Clark Philippines. Already well known by residents of Angeles City and Subic to be one of the best restaurants in Pampanga to enjoy a good steak with some good vintage wines, Yats Restaurant and Wine Lounge is now gaining popularity among visitors looking for a good restaurant in Angeles City and Clark Pampanga to enjoy good seafood also.

Asian Tourist and local residents of Pampanga Angeles City and Subic discover the fine dining Yats Restaurant as a good place to drink, eat and organize group dinners; Yats is well known as the best restaurant in Clark Pampanga, a place to eat that is frequently visited not only by food and wine lovers but also families with children; kids love this restaurant in Angeles City because if it is child friendly; this is a restaurant in Clark Pampanga that visitors never fail to eat in whenever they are in Pampanga or Subic. Tourists frequently wine and dine at the best restaurant in Angeles City Pampanga not only for its sumptuous French cuisine but also for the restaurant’s beautiful ambience and good service also.

Tourists and travel guides laud Yats Restaurant and Wine Lounge as the best restaurant in Angeles City Pampanga, citing reasons such as best restaurant wine list in Pampanga, excellent service in the restaurant with knowledgeable waiters, an elegant ambience for fine dining, good food and exciting menu featuring food from major culinary regions of the world.

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Getting to this fine dining restaurant of Angeles City Clark Freeport Zone Pampanga Philippines
How to get to this fine-dining restaurant in Clark Philippines? Once you get to Clark Freeport, go straight until you hit Mimosa. After you enter Mimosa, stay on the left on Mimosa Drive, go past the Holiday Inn and Yats Restaurant (green top, independent 1-storey structure) is on your left. Just past the Yats Restaurant is the London Pub.

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