Due to project implementation delays, the Philippines is seeking the extension of two loans obtained by the previous Duterte administration from the Asian Development Bank (ADB) and the World Bank. Documents showed that the Department of Finance (DOF), on behalf of the Philippine government, asked...
Zobel-led Ayala Corporation, the country's oldest conglomerate, has secured a €50 million (P3.1 billion) social loan from leading European bank ING to support the portfolio growth of Ayala Healthcare Holdings Inc. (AC Health). In a statement, Ayala said, "this social loan from ING comes at an...
Gokongwei family-backed GoTyme Bank expects a surge in growth after its parent company, Tyme Group, reached a $1.5 billion valuation. On Tuesday, Dec. 17, it announced the successful funding round where Tyme Group secured $250 million, with a $150 million investment from Nubank, a major digital...
While advanced Asian countries lead the global shipbuilding industry, a global think tank stated that emerging Asian countries such as the Philippines, Vietnam, and India have significant potential to take up space in the industry. Dutch think tank ING said in a Dec. 16 report that China, South...
With inflation remaining within the government's target range and economic growth slowing, private sector economists expect that the Bangko Sentral ng Pilipinas (BSP) will further reduce its borrowing cost at its Dec. 19 meeting. According to the Bank of the Philippine Islands (BPI) and think tanks...
The entry of products deemed environment-friendly to the Philippines—a net goods importer—faces challenges due to expensive non-tariff barriers, according to the World Bank. "The Philippines' share of green goods trade is relatively low, partly due to the high incidence of non-tariff...
The Asian Infrastructure Investment Bank (AIIB) led by China has extended to the Philippines two loans totaling $232.18 million (over P13.6 billion) to support the Marcos Jr. administration's ambitious "Build Better More" program. The Beijing-based AIIB disclosed on its website last week that its...
The Philippine government and the World Bank have kick-started the implementation of a project loan aimed at putting in place a climate-resilient, inclusive as well as secure broadband connectivity in the country. The World Bank disclosed on Dec. 12 that Finance Secretary Ralph G. Recto, on behalf...
The Asian Development Bank (ADB) has approved a $30 million loan to support the government’s public-private partnership (PPP) projects, aiming to bolster infrastructure development, advance climate action, and enhance economic competitiveness. In a statement on Friday, Dec. 13, the Manila-based...
Empowering local governments to deliver essential services is crucial for the Philippines to boost human capital and achieve its goal of becoming a middle-class society by 2040, according to a new report by the World Bank. Based the latest Philippines Economic Update (PEU), World Bank emphasized...
Filipino women could find relief from the burden of unpaid care work as the Manila-based Asian Development Bank (ADB) has approved a $900,000 technical assistance project to advance quality and affordable childcare across Asia and the Pacific. The project, "Promoting Sustainable Investments in...
The Asian Development Bank (ADB) has lowered its inflation forecast for the Philippines due to moderating price pressures, particularly in food and core inflation. In its latest Asian Development Outlook (ADO) report, the Manila-based multilateral institution revised its inflation forecast for the...
