It is a policy-based loan of 400 million dollars granted by the Asian Development Bank (ADB) to assist the government in the process of reform to facilitate ease of doing business and assist in making the Philippines one of the best places in the Asian continent and the Pacific to invest.
The Business Environment Strengthening with Technology Program (BEST) Subprogram 1 assists development reforms in the privately operated sector in streamlining and enhancing the transparency of the regulatory requirements and processes of the business sector. It also aims at making investments in priority areas that are highly developmental and enhancing the digital delivery of government services to businesses and investors.
#ADBNews: ADB’s new loan will support government reforms to improve ease of doing business and help position the Philippines as a top investment destination in the region. https://t.co/pCPm9PWFQw pic.twitter.com/gWsiElCQhe
— Asian Development Bank (@ADB_HQ) December 10, 2025
The private sector is a significant source of development and employment. Andrew Jeffries, the ADB Country Director of the Philippines, said that their contribution to the overall economic growth of the country could not be overestimated. “We are determined to help the Philippines explore new methods of developing an enabling environment that would stimulate a more vibrant business universe- one that would assist in further propelling a more robust economic growth.”
In the 2024 World Competitiveness Ranking released by the International Institute of Management Development, the Philippines has been ranked 52nd out of 67 economies, and 36th out of 50 economies in the operational efficiency pillar of the World Bank operational readiness framework. The rankings indicate regulatory and bureaucratic tensions that delay new businesses and sluggish productivity and innovation, especially for micro, small, and medium-sized enterprises.
The government has been keen on improving the prevailing challenges in conducting business in order to enhance the competitiveness of the country and increase investments and employment in the country. The program aims at having improved legal, regulatory, and institutional frameworks to enable the commencement and running of a business, speedy permit and licensing processes, and government acceptance of new businesses.
The Program assists the solution of the whole of the government in increasing investments and sustainable growth of the economy in the country. It is focused on enhancing investor experience by enhancing investment facilitation. It will also ensure that there is up-to-date, clear, and reliable information for online investors through guidebooks and a digital database of business regulations through the Philippine Business Regulations Information System, which was initiated by the Anti-Red Tape Authority (ARTA).
Another area that the program is aimed at facilitating investments is in priority areas like renewable energy and digital infrastructure. Such industries play an essential role in development since an increased investment in renewable energy production and improved digital infrastructure contributes to minimal greenhouse gas emissions.
The program is based on the robust ADB-Government of the Philippines collaborations in achieving reforms to enhance the management systems of the public sector through the Public Financial Management Reform Program, Domestic Resource Mobilization Program, and Business and Employment Recovery Program, among others. ADB also offered complementary technical support services to help the program implementation through the reforms and helped implementing agencies, ARTA, Department of Trade and Industry-Board of Investments, and the Department of Information and Communications Technology to develop and implement new systems and improved processes.
ADB is one of the largest multilateral development banks that promotes inclusive, resilient, and sustainable growth in Asia and the Pacific. In partnership with its members and partners to overcome complex issues together, ADB employs innovative financial instruments and strategic alliances to transform lives, develop good infrastructure, and protect the planet. ADB was established in 1966, and it has 69 owners, 50 of which are regional owners.
