The Asian Development Bank has approved a $500 million loan to support the Philippines' efforts to tackle climate change, it said on Tuesday.The loan will help accelerate reforms in the Southeast Asian nation to put sectors like agriculture,

The Asian Development Bank (ADB) on Tuesday announced it has approved a $500-million policy-based loan to further boost the Philippines capacity to tackle climate change. In a statement, the Manila-based multilateral lender said the $500-million Climate Change Action Program (CCAP) Subprogram 2 “supports the country in implementing its nationally determined contribution (NDC)—its commitment to help advance global efforts to stabilize the

The Asian Development Bank has approved a $500 million loan to support the Philippines' efforts to tackle climate change, it said on

S&P Global Ratings said it revised the Philippines’ credit outlook to positive, putting the Southeast Asian nation closer to its goal of an ‘A’ sovereign rating.

S&P Global Ratings has raised the Philippines’ credit rating outlook to positive from stable, increasing the possibility of an upgrade in the next 12 to 24 months. In a report, the New York-based debt watcher affirmed its “BBB+” long-term investment grade rating and “A-2” short-term sovereign credit ratings on the Philippines.