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Construction Update October 23, 2019ADB to Support Department of Tourism in Sustainable Development of Palawan’s El Nido and Coron

MANILA, PHILIPPINES (23 October 2019) — The Asian Development Bank (ADB) is working with the Philippines’ Department of Tourism (DOT) in preparing a tourism development project that will ensure a sustainable environment for El Nido and Coron, two fast-growing destinations in Palawan province known for their pristine natural beauty and diverse marine life.

In conjunction with the DOT, the ADB has identified El Nido and Coron as two localities requiring investments in environmentally sustainable urban facilities and marine environment protection in anticipation of higher numbers of tourists visiting the islands over the next decade.

“Palawan is known as the country’s ‘last ecological frontier’ and we want to ensure its rich marine ecosystem, particularly in El Nido and Coron, will be protected amid the rapid growth in tourist demand,” said Tourism Secretary Ms. Bernadette Romulo-Puyat.

The project is part of DOT’s Transforming Communities Towards Resilient, Inclusive, and Sustainable Tourism (TouRIST) Program, a coordinated effort by various government agencies and local stakeholders in partnership with multilateral development banks in implementing sustainable tourism development in the country.

ADB will be supporting the DOT-led program by offering solutions and financing to address the immediate need for vital urban infrastructure and services, such as solid waste management, drainage and sanitation, and clean drinking water in El Nido and Coron. ADB will also help build the capacity of local stakeholders to protect and conserve healthy oceans and rehabilitate key biodiversity-based tourism sites. The project is planned for delivery in the fourth quarter of 2020.

To ensure tourism benefits local communities, ADB will also explore innovative funding to local business enterprises and community-based groups for skills and product development to improve the quality of services in El Nido and Coron.

“This project is critically important for ADB because we share with the Philippine government the goal of seeing local economies thrive on an environmentally sustainable path. Tourism, when managed properly, can be a catalyst for inclusive development that can lift residents of El Nido and Coron out of poverty,” said ADB Country Director for the Philippines Mr. Kelly Bird.

A joint ADB and DOT team visited El Nido and Coron earlier this month to hold consultations with local government officials and local stakeholders as part of the preparations in designing the project.

Ms. Romulo-Puyat created a project steering committee composed of senior officials from the National Economic and Development Authority, Tourism Infrastructure and Enterprise Zone Authority, Civil Aviation Authority of the Philippines, and the Departments of Finance, Public Works and Highways, Interior and Local Government, Environment and Natural Resources, Health, and Transportation.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. In 2018, it made commitments of new loans and grants amounting to $21.6 billion. Established in 1966, it is owned by 68 members—49 from the region.

Source: adb.org

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© 2023 – This development project is brought by El Nido Beach Resorts Inc., a company duly organized and existing under the laws of Labuan, Malaysia. The project is exclusive to accredited investors and not available to the general public. The information set forth herein is not an offer to sell or a solicitation of an offer to buy any securities. Any person considering a potential investment opportunity featured herein should make their own commercial assessment of an investment opportunity after seeking the advice of an appropriately authorized or regulated financial advisor. This website should not be construed as advice or a personal recommendation to any prospective investor. The following renderings, specifications and any graphic materials described herein are conceptual and for illustrative purposes only. They do not form part of any legally binding contract. The developer reserves the right to modify, revise, or withdraw any or all of the same in its sole discretion and without prior notice or to substitute any of the foregoing with items of similar or better value, in the developer’s opinion. All rights reserved.