ADB lends US$400 mln to Philippines to further help poor households

The Asian Development Bank (ADB) will lend the Philippines another US$400 million for the expansion of the Government’s Pantawid Pamilyang Pilipino Program (4Ps), local media reported on February 10.

The conditional cash transfer (CCT) programme aims to provide grants to poor families if they send their children to school, visit health centres, and attend family development courses.

The fresh loan will help the Government support more families send their children to school, said Karin Schelzig, a social expert at the ADB’s Southeast Asia Department.
adb lends us$400 mln to philippines to further help poor households hinh 0
Residents in Metro Manila search for their names on the latest shortlist of beneficiaries of the Conditional Cash Transfer (CCT) Program 
It will finance grants to all participating households over four years until 2019.

The ADB approved a loan of US$400 million in 2010 to strengthen the 4Ps’ poverty reduction system, with the provision of cash support to 637,000 needy households in selected areas.


The ADB said it also supplied a technical assistance grant of US$1 million to build demand-driven policy and advisory services.


Since the 4Ps’ inception in 2008, the number of beneficiaries has increased from 340,000 to more than 4.4 million by the end of 2015 — making it the fourth-largest CCT programme in the world after India, Brazil and Mexico.
VNA

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