MANILA - The Asian Development Bank said Monday its $1.5 billion loan to the Philippines was "sufficient" to fund the nation's large COVID-19 response program.
The amount is the largest for the Philippines and among the biggest approved by the bank, ADB country director for the Philippines Kelly Bird told ANC. Watch more in iWant or TFC.tv The ADB is also funding COVID-19 testing laboratories in Pampanga, north of the capital, which can test 3,000 people daily, Bird said. Once operational in mid-May, it can help double the country's daily testing capacity, he said.
The Philippines is expected to ramp up mass testing after President Rodrigo Duterte extended the lockdown of Luzon and other high risk areas until May 15.
The Bangko Sentral bought 300B in govt treasuries while ADB and World Bank approved over $2B in covid loans; where’s all these money? Is it really being spend to upgrade our healthcare system to better fight diseases?
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