The Philippine government is leveraging support from foreign lenders this year to drive its development objectives, securing billions in loans for projects aimed at transforming the country. Online documents reviewed by the Manila Bulletin revealed that the Marcos administration will borrow a total...
The Philippine bamboo industry has an "enormous" potential for bigger and higher-value exports to the global market, according to the Asian Development Bank (ADB). "The Philippines' major bamboo species, Dendrocalamus asper , is known as the giant bamboo because of its massive culms and towering...
The Asian Development Bank's (ADB) newest loan to its host country, the Philippines, which will finance reforms in managing public funds, is scheduled to be repaid until 2039. Documents showed that the loan agreement for the $500-million Public Financial Management (PFM) Reform Program (Subprogram...
While most investors around the world are scrambling to ditch coal plants like bad habits, a defiant European billionaire is still pushing all his chips in for this technology - scooping up these assets in a brazen move to cement coal’s place in the energy mix for many more decades to come. Czech...
At the start of next year, selected elementary schools in the provinces of Lanao del Sur and Maguindanao would receive funding under a World Bank-assisted, civil society-led project aimed at improving primary education in previously war-torn areas in the southern Mindanao island. "The training on...
The Philippines' justice system lags behind not only in the region but also globally in terms of access, efficiency as well as quality, according to data aggregated by the World Bank. The Washington-based multilateral lender's Prosperity Data360 Justice Country Snapshots for the Philippines...
Japanese banking giant MUFG Bank Ltd. expects the Bangko Sentral ng Pilipinas (BSP) to lower interest rates at a slower pace next year alongside an also slower depreciation of the Philippine peso when US President-elect Donald J. Trump returns to the White House. In a Dec. 20 report, MUFG senior...
While the Philippine peso could fall beyond the 60:$1 level when US President-elect Donald J. Trump returns to the White House in 2025, economic growth is expected to benefit from election-related spending next year, according to Singapore-based United Overseas Bank (UOB). "Worries about Trump's...
The Philippines will repay the Asian Development Bank (ADB) until 2039 for the new $500-million policy-based loan it secured to intensify climate change adaptation and mitigation efforts. Documents showed that Department of Finance (DOF) Secretary Ralph G. Recto, on behalf the Philippine...
Security Bank Corporation has assumed management of three FWD Life Insurance Variable Life (VL) funds to offer customers integrated financial solutions that blend life insurance benefits with professionally managed investments. Security Bank, in a Dec. 20 statement, reported that the three VL...
A decade after approving its loan for the Cebu bus rapid transit (BRT) project, the World Bank lamented sluggish implementation and warned it may remain unfinished when the financing ends two years from now. In a Dec. 19 implementation status and results report, the Washington-based...
US President-elect Donald J. Trump's plan to mass deport America's illegal migrants won't dent remittance flows to countries reliant on these cash transfers, according to a World Bank official. This, as the Washington-based multilateral lender expects the Philippines to remain as the world's...
