MANILA, Philippines — The Asian Development Bank (ADB) has increased its financing for the Philippines’ universal healthcare program, helping ease the government’s funding needs as an oil price shock linked to the Middle East conflict strained the economy.
In a statement, the Manila-based lender said its package included a $750-million loan for the third subprogram of the Build Universal Health Care Program.
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The ADB raised its financing for the subprogram by $250 million as higher oil prices and supply disruptions widened the government’s financing needs.FEATURED STORIES
