A ₱5,000 cash relief assistance (CRA) distributed by the government to help drivers cope with the fuel price shock has largely succeeded in keeping transport workers on the road, but almost two-thirds of beneficiaries said the amount was insufficient to cover their operating costs, according to...
The first ₱2,000 payout under the government’s Unified Package for Livelihood, Industry, Food, and Transport (UPLIFT) Assistance has started to be distributed manually to 2.5 million poor and near-poor households, but their next five monthly payments will be sent digitally, the Department of...
Millions of Filipinos are set to receive cash assistance under the government 's Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT) assistance program this week, but not all beneficiaries will receive the aid in the same way or for the same length of time. To address...
The Philippines stands as one of the countries most vulnerable to fuel shortages amid reports of Houthi threats to close the Bab el-Mandeb Strait, according to think tank Capital Economics. “The reliance of several Asian economies, especially Pakistan, the Philippines and Japan, on oil exports...
The Philippines has secured approval for a new grant from the United States (US) aid arm Millennium Challenge Corp. (MCC) to support energy-sector reforms, providing a fresh boost to the Marcos Jr. administration’s efforts to strengthen energy security while the country remains under a state of...
To boost the national government’s response to the ongoing energy crisis, the state-run Maharlika Investment Corp. (MIC) has remitted ₱1.38 billion in cash dividends to the Bureau of the Treasury (BTr). This remittance represents 75 percent of the fiscal year (FY) 2025 net earnings of the...
Amid a prolonged global oil crisis, the Philippines is poised to secure fresh grant and loan financing from bilateral as well as multilateral partners to support power-sector reforms and the transition to more renewable energy (RE) sources. United States (US) aid agency Millennium Challenge Corp....
The Philippines is set to secure another $1-billion loan from the World Bank in June, this time for an energy project follow-through and coupled with a $20-million grant, making the package the largest single financing commitment extended to the country by the Washington-based multilateral lender....
The United States (US) government’s Millennium Challenge Corp. (MCC) has earmarked a $60-million grant for the Philippines focused on the energy sector. Documents discussed during the US aid agency’s economic advisory council meeting last month, which were made public last week, showed that the...
Social Security System (SSS) is preparing to launch an energy sustainability loan program in September to help qualified members finance residential solar panel systems amid elevated electricity costs. In a statement on Friday, May 22, SSS President and Chief Executive Officer (CEO) Robert Joseph...
Escalating tensions in the Middle East and the resulting spike in global oil prices could trigger broader economic disruptions in the Philippines, worsening inflation, weakening the peso, and raising costs across transportation, food, tourism, and other energy-intensive industries, according to...
The Insurance Commission (IC) has ordered a set of relief measures for consumers, including a three-month grace period for premium payments and loan repayments, as the country grapples with an energy emergency triggered by geopolitical tensions. Under Circular Letter No. 2026-11, issued May 13,...
