Daily News

ADB approves $300 Mn loan for PH LGU support

The Asian Development Bank (ADB) has approved a $300-million to help local government units (LGUs) improve public services and revenue collections as well as reduce the cost of doing business. The loan covers the first segment of the Local Governance Reform Program (LGRP). Under the implementation arrangements, the Department of Finance will act as the loan’s executing agency, while the Department of Budget and Management, Department of the Interior and Local Government, and Bureau of Local Government Finance will be the primary implementing agencies.