Founded in 1966, ADB is dedicated to eradicating poverty and assisting in sustainable growth in Asia and the Pacific Rim through grants, loans, technical assistance, and equity investments. In December 2019, the bank approved a $23.3 million loan to assist the Philippine Competition Commission (PCC) carry out the 2015 Philippine Competition Act (PCA). The project will aid in the capacity building of PCC and other government agencies tasked to implement PCA.
The funding will enable government staff to further their education and competence related to competition law through short-term courses, scholarships, and non-degree programs. A competition law and policy academic center of excellence will also be established. Through improved competition law enforcement, the project will aid the Philippine government to sustain the country’s economic growth, which is among the fastest in Southeast Asia