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Manila Bulletin devider Business devider Banking & Finance devider GCG gets ₱14-million ADB funding for GOCCs' digitalization efforts

GCG gets ₱14-million ADB funding for GOCCs' digitalization efforts

Published Jun 16, 2025 12:00 am  |  Updated Jun 14, 2025 02:37 pm
The Governance Commission for Government Owned or Controlled Corporations (GCG) has secured an over ₱14-million funding from the Manila-based Asian Development Bank (ADB) to harmonize and digitize reporting among state corporations.
“In 2025, we are proud and honored to have created a partnership with the ADB to enhance our operations. I'm happy to share with you that we will be receiving a funding of $250,000 for the development of a common reporting system for the GOCCs [government-owned and/or controlled corporations], as we usher in a new era of digitalization,” GCG Chairperson Marius P. Corpus said in his inaugural State of the Governance Commission Address (SOGCA) last June 9.
Corpus said this is a follow-through to the earlier GCG-ADB partnership on the sovereign wealth fund (SWF) initiative in 2024, which “aims to secure long-term investments for future generations,” referring to the state-run Maharlika Investment Corp. (MIC).
On the digitalization front, Corpus said the GCG has already expanded its information systems with the development of an internal performance scorecard tracker as well as a directors' performance and attendance compensation system.
This leverages on earlier initiatives, such as the GCG's strategic performance management system (SPMS) manual approved by the Civil Service Commission (CSC) in 2016.
Corpus also cited the GCG monitoring system (GMS), which publicly discloses GOCCs' financial information, including corporate operating budgets and financial statements.
At the height of the Covid-19 pandemic, “the GCG re-launched the ICRS web portal and its content management system (CMS), which helped enhance the subsystem that facilitates the online submission of GOCCs' financial information,” Corpus said.
In a report published last year, the Organization for Economic Cooperation and Development (OECD) noted that the number of GOCCs in the country dwindled to 118 in 2024 from 158 in 2011 amid closures of loss-making corporations, mergers, and privatizations, citing GCG data.

Related Tags

Governance Commission for GOCCs (GCG) Marius P. Corpus government-owned and/or -controlled corporations (GOCCs) Asian Development Bank (ADB)
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