Real estate giant Ayala Land Inc. (ALI) will be raising ₱10 billion this month from a multilateral sustainability-linked loan as part of the ₱50 billion in funds it will be securing in the second half of the year. In an interview, ALI Chief Finance Officer (CFO) Augusto Bengzon said that ₱30...
Another loan from the World Bank is forthcoming for the Philippines, this time to finance the country’s fight against epidemics by strengthening both human and animal health systems to improve pandemic preparedness. According to a Aug. 12 concept environmental and social review summary...
The World Bank Group’s (WBG) International Finance Corp. (IFC) is considering another round of investment financing support for Ayala Land Inc. (ALI), including for the property giant’s ongoing renovation and expansion of its flagship malls to make them “greener.” A World Bank document seen...
After the successful bidding to privatize the Caliraya-Botocan-Kalayaan (CBK) hydroelectric power plants, the government and private-sector players may next look forward to another public-private partnership (PPP) in rehabilitating the decades-old Agus-Pulangi hydropower complex in Mindanao. Power...
The Department of Agriculture (DA) is set to receive a loan financing from the Washington-based multilateral lender World Bank next year for a project aimed at supporting small agri-businesses. A June 26 document published on Thursday, July 3, showed that the DA is seeking an investment project...
As widely expected, the Philippines remained classified as a lower-middle-income country (LMIC) after narrowly missing the lowered threshold to achieve upper-middle-income country (UMIC) status, based on the World Bank’s latest country income classification. The latest data released by the...
Despite delays, the Metro Manila flood control project being funded by loans from the Washington-based World Bank Group (WBG) and the China-led Asian Infrastructure Investment Bank (AIIB) has so far benefitted over half a million residents in flood-prone areas. “To date, more than 600,000 people...
The Philippines is seeking a World Bank loan worth billions of pesos to enhance technical-vocational education and training (TVET) in the country. In a concept document dated June 24, the World Bank said the investment project financing (IPF) for the proposed $250.625-million (over ₱14-billion)...
Two-and-a-half-year-old Salmon Group Ltd, a Manila-based financial technology (fintech) firm, has raised $88 million to expand its efforts in delivering modern financial solutions and improving credit access across Southeast Asia. The funding includes a $60 million drawdown from a three-year, $150...
Aside from strengthening governance to build investors’ confidence in developing countries like the Philippines, the Washington-based World Bank Group (WBG), the world’s largest development bank, said these economies should also increase job opportunities for women as local branches of foreign...
A loan scheduled to be greenlit by the World Bank in October is aiming to improve water supply and sanitation in three Philippine islands. In a June 5 project information document, the Washington-based multilateral lender said its upcoming $275.38-million—or over ₱15-billion—financing for the...
A $600-million (over ₱33-billion) loan scheduled to be greenlit by the Washington-based World Bank in December is aiming to not only help sustain robust economic expansion in the Philippines but also ensure that Filipino workers are ready to reap growth-induced employment. In a June 2 program...
