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ADB projects properly supervised, DoF says following infra scandals
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BusinessWorld Online
THE public-works corruption scandals have driven the Department of Finance (DoF) to assure the Asian Development Bank (ADB) that adequate safeguards are in place for projects funded by the bank.
Finance Secretary Ralph G. Recto said agencies implementing foreign-funded projects are accountable and observe good-governance practices.
Economy Undersecretary Rosemarie G. Edillon has said that official development assistance (ODA) partners will be looking at how the government addresses corruption in flood control and other infrastructure projects.
After the visit, the DoF said Mr. Recto met with ADB officials including with Mr. Jeffries at the ADB’s Clark office.
The ADB is the Philippines’ second-largest ODA partner, accounting for $10.40 billion or 28.7% of total ODA financing as of March.