Limited success for poverty programmes in Philippines
The Asian Development Bank said Wednesday that its programmes aimed at lifting millions of Filipinos out of poverty have only had limited success.
"ADB assistance programme over the past five years has been successful in meeting its more selective objectives, despite need for improvements. However, the larger context for the next country strategy continues to be daunting," it said.
The Manila-based lender said it had lent nearly 10 billion dollars for programmes addressing the Philippines' fiscal woes, developing capital markets and ensuring reliable power supply.
Despite these, tax revenues slipped to 14.1 percent last year, below the 14.8 percent target set by the government, and poverty rose to 32.9 percent of the population in 2006 "despite robust growth.”
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