The Marcos Jr. administration will borrow $650 million, or over ₱37 billion, from the World Bank next year to sustain the conditional cash transfers for the Pantawid Pamilyang Pilipino Program (4Ps) and ensure that its youth beneficiaries land jobs. According to a Sept. 20 project information...
Security Bank Corp. is planning to raise at least ₱5 billion from its fixed-rate peso bond public offering, which kicked off on Monday, Sept. 22, and will run until Oct. 17, 2025. The bonds will have a minimum issue size of ₱5 billion with an oversubscription option, a tenor of five years, and...
Two global banking giants have flagged political and fiscal challenges posing near-term risks to the Philippine economy, especially in the aftermath of a corruption scandal involving massive public spending on ineffective flood control projects in recent years. While “there is a strong pipeline...
State-owned Development Bank of the Philippines (DBP) has been recognized for its best practices in human resources management, particularly in utilizing employee engagement and organizational development in building a future-ready institution, a top official said. DBP President and Chief Executive...
The Philippines will repay until 2053 its latest $400-million (nearly ₱23-billion) loan from the Manila-based Asian Development Bank (ADB) that supports the Marcos Jr. administration’s “Walang Gutom” Food Stamp Program. Documents showed that Finance Secretary Ralph G. Recto, on behalf of...
Aboitiz Renewables, Inc. (ARI) announced its Zambales solar power plant, which is nearing completion, has secured a financing deal with the Bank of the Philippine Islands (BPI). In a disclosure to the Philippine Stock Exchange on Friday, Sept. 12, ARI said that AP Renewable Energy Corp. has...
Globe Telecom Inc. has signed a term loan facility of ₱5 billion with Bank of Commerce (BankCom), the banking arm of San Miguel Corp., to bankroll expansion projects and other financing needs. In a disclosure to the Philippine Stock Exchange (PSE), the Ayala-led telecommunications giant said the...
Exactly a week ago today, I attended the confirmation of the country’s 10 outstanding Filipinos, an annual recognition program by the Metrobank Foundation, which is now in its 40th year. The grand ballroom of the posh Grand Hyatt Hotel in BGC was teeming with people dressed in their best. The 10...
The Philippines will repay its latest $700-million (over ₱39-billion) World Bank loan, which is aimed at strengthening community resilience, until 2053. The latest World Bank documents showed that Finance Secretary Ralph G. Recto, on behalf of the Philippine government, signed the loan agreement...
State-owned Development Bank of the Philippines (DBP) has launched a ₱510-million corporate social responsibility (CSR) program designed to strategically allocate resources and promote access to quality education in both the basic and tertiary levels, a top official said. DBP President and Chief...
LONDON, England – The World Bank is gearing up to help countries build safer nuclear power facilities by enhancing their technical capacity and strengthening institutional structures to mitigate project risks. In an exclusive interview on the sidelines of the recently concluded World Nuclear...
The World Bank said its loan-funded Philippine Fisheries and Coastal Resiliency (FishCoRe) Project is making progress even as the Washington-based multilateral lender slightly downgraded the project’s overall implementation ratings. In a Sept. 5 implementation status and results report, the World...
