In January 2007, the Asian Development Bank (ADB), at the request of the government of the Philippines, approved a $33.8 million loan, and a $9.0 million grant from the Global Environment Facility (GEF) it administers, for the Integrated Coastal Resources Management Project.
In March 2009, the Asian Development Bank (ADB) approved a loan of $50 million to the government-owned Development Bank of the Philippines (DBP) for the Credit for Better Health Project.
A 2007 study by the Asian Development Bank (ADB) identified the lack of macroeconomic stability, high costs of doing business, inadequate infrastructure, and weak investor confidence as the key binding constraints to sustained growth and poverty reduction in the Philippines.
The enactment of the Local Government Code (LGC) in 1991, which provided a comprehensive framework for local autonomy and decentralization, ushered in the widespread and systematic pursuit of local government reforms in the Philippines.
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