President Ferdinand “Bongbong” Marcos Jr. revealed the readiness of state-run banks Landbank and the Development Bank of the Philippines (DBP) to expand their credit coverages to agriculture. In photo are: (from left to right) Usec. Leocadio Sebastian, Undersecretary for Rice Development of the...
Land Bank of the Philippines is offering its "anti-bill shock" credit facility to distribution utilities (DUs) in the power industry to help them cushion the impact of surging electricity rates during the summer months. As conveyed to the Energy Regulatory Commission (ERC), the credit facility...
The Muntinlupa City government released P2.58 million worth of loans with zero interest to local entrepreneurs. A total of 125 entrepreneurs were the beneficiaries of the city government loans released through the Muntinlupa Entrepreneurship Financing Division (MEFD). Muntinlupa Mayor Ruffy...
The Pag-IBIG Fund Board of Trustees officially approved the postponement of the agency’s contribution hike in 2023, citing the continuing recovery of both workers and business owners from the pandemic, its top officials announced Monday (06 March). Secretary Jose Rizalino L. Acuzar, who heads the...
Listed firm Pilipinas Shell Petroleum Corporation (SHLPH) has secured P9.0 billion loan from the Bank of the Philippines Islands (BPI) and Metrobank. In a disclosure to the Philippine Stock Exchange (PSE), Shell said the P9 billion loan will be equally split between the two banks. The loan will...
Pag-IBIG Fund members collectively saved nearly P80 billion in 2022, setting yet another record for the highest amount saved by members with the agency in a single year, its top officials said. In 2022, the amount collectively saved by Pag-IBIG members totaled P79.9 billion – the highest in the...
The House of Representatives recently approved on third and final reading a pet measure of Negros Oriental 3rd district Rep. Arnie Teves. Negros Oriental 3rd district Rep. Arnie Teves (Facebook) The measure, House Bill (HB) No. 2877, intends to provide for the restructuring and condonation of...
The House of Representatives unanimously passed on third and final reading Tuesday, Jan. 31 a bill that would condone unpaid loan interests, penalties, and surcharges incurred by farmers, fisherfolk, and other agrarian reform beneficiaries from government-led lending agencies. (File photo/MANILA...
The World Bank has granted a fresh P32.7-billion loan to the Philippines to boost the country’s resiliency and sustainability of its financial sector as well as strengthen economic recovery from the pandemic. In a statement on Tuesday, Jan. 31, the Washington-based lender said its approved the...
Pag-IBIG Fund financed 18,657 homes for low-income and minimum-wage earners in 2022, its top officials announced Friday (January 27). Socialized homes represent 18% of the 105,212 homes financed by the agency for 2022. The aggregate amount released for socialized housing loans, meanwhile, is 7% or...
The Asian Development Bank (ADB) has approved a loan that aims to help the government expand economic opportunities in agriculture. In a statement on Friday, Jan. 27, the Manila-based multilateral institution said the bank approved a $500 million policy-based loan to the Philippines that seeks to...
Over 100,000 members with new homes Pag-IBIG Fund released a record-high P117.85 billion in home loans to finance the housing units of 105,212 members in 2022, its top officials announced January 18 (Wednesday). For 2022, the amount of home loans released by the agency increased by 21% or P20.57...
