Philippines gets $400 million ADB loan to develop capital market

MANILA (Reuters) - The Philippines has secured a $400 million loan from the Asian Development Bank (ADB) to strengthen its domestic capital market and mobilise funds for the infrastructure projects it hopes can spur an economic recovery next year. The policy-based loan, the ADB said, will help the Southeast Asian economy grow its government and corporate bond markets and expand its investor base.The Philippines, which is on the edge of a recession after the coronavirus-induced lockdown shuttered..