In response to protests that greeted the Asian Development Bank (ADB) during its recent 45th Annual Meeting in Manila, Philippine finance officials said that the contribution of the multilateral lending institution to the region’s economic growth in the last four decades is undeniable.
The country’s experience shows that ADB loans, which have increased the country’s debt dependency, continue to be shouldered by Filipinos, as shown in the infographic below.
IBON Infomaterial | 8 May 2012 | ADB loans lead to more woes for Filipinos