The Philippine government on Tuesday received the JPY 20-billion (approximately P8.8 billion) budgetary support pledged by the Government of Japan (GOJ), through the Japan International Cooperation Agency (JICA). (Embassy of Japan) In a statement issued by the Japanese Embassy in Manila, it said...
FGP Corp., which is a subsidiary of Lopez-led First Gen Corporation, has inked a six-year US$308 million loan facility with four banks – the proceeds of which will primarily be allocated to refinance debts funneled to its 500-megawatt San Lorenzo gas fired power plant; while the rest will be...
The Bangko Sentral ng Pilipinas (BSP) said it has processed some P42.8 billion worth of local government unit (LGU) loans in the last half of 2020. All LGUs must send requests for Monetary Board opinion before they could transact their planned domestic borrowings. For the second semester of 2020,...
The Development Bank of the Philippines (DBP) and the Local Government of Manila today, May 21, signed a P10 Billion 15-year term loan agreement to fund public infrastructure projects in the capital. Specifically, the city government will use the fund to build school buildings in three districts,...
President Duterte and Japanese Prime Minister Yoshihide Suga on Wednesday held a telephone summit to discuss among others the impending release of the JY20 billion (roughly P9 billion) Post-Disaster Standby Loan to the Philippines, the status of the subway and railway projects in Metro Manila and...
Amid the pending amendments to the Agri-Agra Reform Credit of 2009 (Agri-Agra Law), the Land Bank of the Philippines (LANDBANK) said it is open to revisiting its existing loan application requirements to make it easier for farmers and fishermen to borrow from the state-run bank. In a statement,...
The Asian Development Bank (ADB) is urged to substantially expand its loan portfolio in the next five years to support the swift recovery of its developing member-countries from the global economic shock of the pandemic. During the ADB Governors’ Seminar, Finance Secretary Carlos G. Dominguez III...
Young entrepreneurs, small-scale farmers, and fisherfolks who were affected by the coronavirus disease (COVID-19) pandemic were prodded to avail of the Department of Agriculture's (DA) loan offers to help them recover and get out of the doldrums. (Photo courtesy of the Department of Agriculture) In...
Pag-IBIG Fund granted socialized home loans to 5,074 members from the minimum-wage and low-income sectors totaling P2.2 billion in the first three months of 2021 despite the continuing pandemic, according to the top executives of the agency. Socialized home loans make up about 25% of the 20,712...
The Development Bank of the Philippines (DBP) granted a P195-million term loan to a San Juan City-based educational institution to fund a six-story building for its permanent offices and school. The bank’s assistance to the Community of Learners Foundation, Inc. (COLF) was made under the bank’s...
The Development Bank of the Philippines (DBP) granted a P1.275-billion loan to Allied Care Experts (ACE) Medical Group to improve their hospitals in Northeast and Central Luzon. ACE will spend P655-million to build a 101-bed five-storey Level 2 hospital building and acquire various medical...
Development Bank of the Philippines (DBP)’s total assets reached P1.04-trillion last year, up 37 percent from P761.24 billion in 2019, as deposits grew 47.6 percent to P817.9 billion and investments increased 26 percent to P260.1 billion. Development Bank of the Philippines headquarters in Makati...
