Pag-IBIG Fund said it shall maintain its 3% annual interest rate for qualified socialized housing loans under the Expanded Pambansang Pabahay para sa Pilipino Program, keeping homeownership affordable at a time when the conflict in the Middle East continues to unsettle global oil markets and drive...
To accelerate the country’s progress toward upper middle-income status, the Philippine government has secured roughly ₱82.4 billion (221.7 billion Japanese yen) in financing from the Japan International Cooperation Agency (JICA) for two landmark infrastructure projects. Finance Secretary...
State-run pension fund Government Service Insurance System (GSIS) is off to a strong start with its Ginhawa Solar Energy Loan (GSEL) program, racking up over 1,200 applications worth nearly ₱400 million in less than 24 hours after its launch on Wednesday, March 25. “The rollout of GSEL is our...
The Securities and Exchange Commission (SEC) has revoked the registration and operating license of Gul-Zara Lending Investor Corp. after the firm failed to meet mandatory reporting requirements and defied moratorium on new digital lending platforms. The corporate regulator’s Financing and Lending...
While welcoming the Department of Education’s (DepEd) efforts to explore more flexible loan arrangements for public school teachers, the Alliance of Concerned Teachers (ACT) Philippines on Thursday, February 5, warned that extending loan terms will only worsen educators’ growing debt burden if...
Two of the country’s major teachers’ organizations have called on the Government Service Insurance System (GSIS) to provide stronger, more compassionate, and more direct financial assistance to government workers and educators severely affected by recent disasters, particularly Typhoons Tino...
The Government Service Insurance System (GSIS) has rolled out a three-month grace period on emergency loan payments for its members and pensioners in affected areas to ease the financial burden on Filipinos recovering from the devastation of Typhoons Tino and Uwan. In a statement, the pension fund...
The South Korean Embassy in the Philippines maintained that despite the suspension of a feasibility study on a possible loan deal with the country, Manila remains to be “one of Korea 's most valued partners.” “Despite current circumstances, the Philippines remains one of Korea 's...
The Department of Foreign Affairs (DFA) said that it will clarify with the South Korean Embassy in Manila a Facebook post by South Korean President Lee Jae-myung that it is cancelling the implementation of a 700-billion won (P28.7 billion) infrastructure loan to the Philippines because of...
Philippine banks are shoring up their loan-loss buffers as the industry’s bad loan ratio climbed to an eight-month high of 3.4 percent, due to the lingering impact of the Covid-19 pandemic and global uncertainties affecting borrowers’ ability to repay debts. According to the latest data from...
President Marcos has ordered government agencies to ensure that the Turismo Asenso Loan Program is accessible to in need small tourism businesses around the country. In his speech during the awarding ceremony of tourism loan in Pasay City, Marcos directed the Department of Tourism (DOT),...
The Securities and Exchange Commission (SEC) has ordered seven online platforms to stop lending-related operations since they are not registered with the Commission. In separate cease and desist orders (CDOs) dated Aug. 15, the SEC Financing and Lending Companies Department (FinLend) directed Cash...
