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ADB Approves Loan of $500 Million for the Government’s 4Ps Program

  • ADB said it approved a $500 million loan on Wednesday to support the 4Ps program.
  • Studies affirming the efficacy of the program, which helped 1.5 million people escape poverty, was the main factor for the loan decision the Manila-based lender said.
  • Additionally, there will be $1.3 million in technical assistance for youth development programs, IT support, and incorporation of the 4Ps database into the national ID program, among others.
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The Asian Development Bank said it approved a $500 million (P24.9 billion) loan on Wednesday to support the conditional cash transfer program in the Philippines and to keep children healthy and in school.

Studies affirming the efficacy of the Pantawid Pamilyang Pilipino Program or 4Ps, which helped 1.5 million people escape poverty, was the main factor for the loan decision the Manila-based lender said.

“Through this project loan and technical assistance support, ADB is helping the Philippines expand these gains,” said ADB Vice-President Ahmed M. Saeed.

Based on ADB results, the average enrollment rate in 4Ps households for children aged 16 to 17 years is 88 percent, higher than the 70 percent in non-4Ps households. Additionally, there will be $1.3 million in technical assistance for youth development programs, IT support, and incorporation of the 4Ps database into the national ID program, among others, the ADB said.

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