MOSCOW (Sputnik) — The republic has received some $1.4 billion in loans since joining the ADB in 1994.
"The assistance will help expand access to financial services, diversify trade and investment, improve public infrastructure and services, and lower the costs of doing business," Priyanka Sood, a senior financial sector specialist with ADB’s Central and West Asia Regional Department, said as quoted in the statement.
The ADB, located in the Philippines capital of Manila, was established in 1966 to reduce poverty in Asia and the Pacific. The bank comprises 67 members in Asia, Europe and North America.
