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MANILA, Philippines – The Manila-based Asian Development Bank has thrown its support behind the expansion of the Luzon Economic Corridor (LEC), saying the growth belt still faces massive infrastructure requirements that could benefit from the entry of seven additional partner countries.
ADB Philippines Director Andrew Jeffries said the expanded partnership would help sustain momentum in developing what has become one of the country’s most critical economic corridors.
READ: 7 more countries join Luzon corridor pact
“In general, 60 percent of the whole country’s GDP is more or less within this corridor,” Jeffries said on the sidelines of an LEC reception in Makati. “Of course, because it’s such a large part of the whole Philippine GDP, it’s a very important corridor to keep developing.”
