Asian Development Bank Publications Unit External Relatio

Published purpose

The project, Fostering Inclusive Growth (FIG), is a technical assistance project administered by the Asian Development Bank (ADB) consisting of three areas: public-private partnerships, tourism competitiveness and employment facilitation. The public-private partnerships component is a US$ 100 million initiative of the ADB, the Governments of Australia and Canada, in partnership with the Government of the Philippines. The project seeks to support the Government of the Philippines' efforts to stimulate investments, create jobs and reduce unemployment. Specifically, the project aims to improve the business climate by introducing better business regulations and increasing investment in infrastructure development such as roads, railways and airports. It also aims to advance the economic interests of the poor by facilitating youth employment through the "My First Job" youth job placement program and by increasing employment through the industry-led tourism skills development program. This project leverages other DFATD initiatives in this sector, which focus on helping to create sustainable economic growth.