Trade and Competitiveness Program – Subprograms 1 and 2

Continued implementation of regular reform programs even under crisis situations demands a strong partnership between ADB and the government. This program continued and strengthened ADB’s support to improve the country’s macroeconomic performance under the Economic Stabilization Program initiated by the government in 2019. Sustained implementation of the program allowed the government to continue with policy reforms while fighting the pandemic. Through the Countercyclical Support Facility loan for the COVID-19 Active Response and Expenditure Support Program, ADB helped the government meet immediate financing requirements in mitigating the significant negative health, social, and economic impacts of the pandemic. Strong partnership with the government enabled ADB to respond quickly and substantially to support the government’s pandemic response while maintaining the momentum of reforms under regular programs.