State-run Maharlika Investment Corp. (MIC) has extended up to ₱15 billion in short-term financing to Ramon S. Ang-led Petron Corp., the country’s lone remaining oil refinery, to boost the firm’s working capital for fuel purchases. In a statement on Thursday, May 14, the country’s sovereign...
Over 108,000 members and pensioners affected by recent calamities may avail themselves of ₱2.64 billion worth of emergency loans from state-run pension fund Government Service Insurance System (GSIS). In a statement on Friday night, May 8, GSIS said the emergency loan program aims to provide...
The Philippines will repay through 2041 an $800-million loan from the World Bank aimed at strengthening the country’s fiscal resilience, attracting higher-quality private investments, and equipping workers with skills for more productive and higher-value jobs. Documents showed that Finance...
State-run pension fund Government Service Insurance System (GSIS) has launched a new loan facility to help members reduce daily transportation costs by financing bicycles and electric mobility devices. In a statement on Monday, May 4, GSIS said it rolled out the Ginhawa Bike and E-Mobility Loan...
The regulatory relief recently announced by monetary authorities is essential; it stabilizes borrowers’ loan repayment schedules and prevents a sharp uptick in banks ' non-performing loans (NPLs). This regulatory respite is a necessary support mechanism that helps stabilize banks’ balance...
Senator Joel Villanueva on Friday, April 10, welcomed the Bangko Sentral ng Pilipinas ' (BSP) proposal to depend on principles-based framework for salary-based personal loans as doing so actually puts borrowers ' actual capacity to pay as consideration in their lending decisions. ...
Senator Mark Villar has filed a measure calling on government financial institutions to implement loan moratoriums, grace periods and penalty condonation to help Filipinos cope with the rising costs of fuel. Villar filed Senate Resolution No. 366 urging government owned and controlled corporations...
Overseas Filipino workers (OFWs) who were repatriated due to the Middle East conflict may withdraw their savings from the Pag IBIG Fund and avail of the three-month moratorium for their housing loans at the same time, the Department of Human Settlements and Urban Development (DHSUD) said. DHSUD...
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...
