ADB Loan To Boost Financial Inclusion in the Philippines

Source: Manila Bulletin

The Department of Finance (DOF) said the Asian Development Bank’s (ADB) $300 million loan to the Philippines will help the government reach its financial inclusion targets.

Finance Secretary Carlos G. Dominguez III said this as he thanked ADB for its support to the government’s program in digitalizing the country’s banking and payment systems, critical to the Duterte administration’s socioeconomic agenda. He noted that COVID-19 has underscored how important digital systems and contactless transactions are for economic resilience.

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