ADB Pledges $400M to PH for Marine Conservation and Blue Economy Projects

KUALA LUMPUR — The Asian Development Bank (ADB) has pledged a new $400 million loan to the Philippines, aimed at enhancing marine ecosystems and advancing the country’s blue economy through its National Adaptation Plan.

The commitment was announced by ADB President Masato Kanda during the 16th BIMP-EAGA (Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area) Summit. The loan is scheduled for approval within the year.

In addition, ADB has previously deployed $500 million toward agriculture-focused reforms, public service improvements, financial support, and rural family protection.

Mindanao Development Authority (MinDA) chair Secretary Leo Tereso Magno highlighted ADB’s consistent support, noting its role in shaping both the BIMP-EAGA Vision 2025 and an upcoming 2035 strategy.

“Most of ADB’s development aid for BIMP-EAGA flows into Mindanao and Palawan,” Magno said, adding that the specifics of project funding will still be finalized by Philippine officials.

The Philippines, serving as this year’s BIMP-EAGA Summit chair, continues to promote economic growth through interregional transport, energy connectivity, agribusiness, tourism, and environmental initiatives.

President Ferdinand “Bongbong” Marcos Jr., addressing the summit, stressed the importance of political will and collaboration in turning BIMP-EAGA’s aspirations into lasting impact.