Benise Balaoing

The Asian Development Bank (ADB) in Ortigas City on June 17, 2021  Jonathan Cellona, ABS-CBN News

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CLIMATE-COAL

ABS-CBN News

MANILA -- The Philippines is borrowing $400 million from the Asian Development Bank (ADB) to boost its insurance sector. In a statement, the ADB said the loan will push for &quot;cutting-edge&quot; digitalization of the insurance industry, and pushes for greater intermediation of long-term credit for government infrastructure projects.The ADB said the loan will make the Philippine insurance market more efficient and consumer-oriented, allowing Filipinos to better manage climate risks and improve disaster resilience.&quot;By modernizing the regulatory framework, we are not only strengthening the insurance industry itself—we are building a critical line of protection for the nation, mobilizing long-term capital for development, and ensuring that the benefits of economic growth reach every Filipino entrepreneur and household,” said ADB country director for the Philippines Andrew Jeffries.The ADB said the program will be impleented in three sequenced subprograms, in close partnership with the Insurance Commission. Earlier this year, the ADB helped the Philippines boost its <a href="https://www.abs-cbn.com/news/business/2025/1/29/adb-lends-ph-500-million-to-boost-disaster-resilience-1749" rel="noopener noreferrer" target="_blank">disaster response</a>.It has provided funding for programs that upskill <a href="https://www.abs-cbn.com/news/business/2025/1/30/adb-lends-ph-500-million-to-upskill-filipino-workers-1327" rel="noopener noreferrer" target="_blank">employees</a> and <a href="https://www.abs-cbn.com/news/business/2025/2/4/adb-ph-agencies-launch-phase-2-of-skills-development-funding-program-for-msmes-2306" rel="noopener noreferrer" target="_blank">small business </a>owners, and supported development projects in Mindanao and Palawan.It also approved the $1.45-billion second and final tranche of its loan for the <a href="https://www.abs-cbn.com/news/business/2025/4/16/adb-oks-1-45-billion-final-tranche-of-loan-for-malolos-clark-railway-1228" rel="noopener noreferrer" target="_blank">Malolos–Clark Railway Project</a>.It is also lending the Philippines $400 million for its <a href="https://www.abs-cbn.com/news/business/2025/8/13/adb-loans-ph-400-million-for-walang-gutom-program-1011" rel="noopener noreferrer" target="_blank">Walang Gutom Food Stamp Program</a>.

The Philippines is borrowing $400 million from the ADB to boost its insurance sector.

The Philippines is borrowing $400 million from the ADB to boost its insurance sector.

PH borrows $400 million from ADB to boost insurance sector

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PH borrows $400 million from ADB to boost insurance sector

Benise Balaoing,

ABS-CBN News

Published October 14, 2025 05:21 PM PHT

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Updated October 14, 2025 09:28 PM PHT

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insurance

ADB

Asian Development Bank

loan

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