The Department of Finance (DOF) will draw this week $80 million of the World Bank’s standby loan extended to the Philippines to support the national government’s disaster relief and rehabilitation efforts in provinces devastated by Typhoon “Odette.” Finance Secretary Carlos G. Dominguez III...
The Philippines has secured a fresh loan from the World Bank to fund the purchase of additional doses of coronavirus disease 2019 (COVID-19) vaccines needed for booster shots. The Washington-based multilateral institution announced on Wednesday, Dec. 22, the approval of the government’s...
The Department of Finance (DOF) is planning to tap the World Bank disaster response loan to fund the rehabilitation efforts in Typhoon Odette- affected areas. Finance Secretary Carlos G. Dominguez III said they will activate the $500 million in contingency loan from World Bank that the government...
Asian Development Bank (ADB) has extended P100-million grant, approximately $2 million, to bankroll the Philippine Competitive and Inclusive Agriculture Development Program (CIADP2) to be implemented by the Department of Agriculture (DA). The CIADP2 aims to reduce income inequality by expanding...
The Asian Development Bank (ADB) announced another loan to the Philippine government, but this time the financing will fund the construction of bridges over the Marikina River to improve road traffic flow in Metro Manila. In a statement, the Manila-based multilateral institution said on Wednesday,...
The Land Bank of the Philippines (LANDBANK) has opened its first Agri-Hub in Central Luzon located in Rizal, Nueva Ecija as part of efforts to be more accessible to farmers and fishermen. In the next few weeks, the state-run bank is still targeting to open four more Agri-Hubs – located in Bago...
The Manila-based Asian Development Bank (ADB) has raised its economic growth outlook for the Philippines due to improving coronavirus (COVID-19) situation and the acceleration in the government’s inoculation program. Based on the supplement to the Asian Development Outlook (ADO) 2021 on Tuesday,...
Three House of Representatives committees were asked on Monday, Dec. 13 to conduct a congressional inquiry into the reported fraudulent bank transactions that have allegedly victimized depositors of BDO Unibank Inc. House of Representatives facade Bayan Muna Representatives Carlos Isagani Zarate,...
The Duterte administration has tapped the Asian Development Bank (ADB) for a fresh $250 million loan to help the Philippines in securing additional coronavirus disease (COVID-19) vaccine supply. The Manila-based multilateral institution said on Monday, Dec. 13, that it has approved the new loan to...
Senate Committee on Banks, Financial Institutions and Currencies chair Senator Grace Poe on Sunday urged the Bangko Sentral ng Pilipinas (BSP) to dig deeper into the online banking hacking incident that hounded BDO account holders, saying such incident need to stop in the face of the growing...
Surigao del Sur Rep. Johnny Pimentel, chairman of House committee on strategic intelligence, on Sunday told the Philippine Coast Guard (PCG) to prepare to fight back against China’s water cannon should a scheduled offshore gas drilling activity in the Recto Bank escalate into tension. In a...
Manila Mayor Francisco “Isko Moreno” Domagoso is open to waiving his rights under Republic Act (RA) 1405 or the Bank Secrecy Law, thus, making his bank accounts a matter of public record. During a cash aid distribution event to victims of the San Andres fire on Friday, Dec. 10, Domagoso said he...
