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,...
Senator Joel Villanueva has filed a bill seeking to guarantee financial relief for borrowers, depositors, and digital payment users during national emergencies by giving the Bangko Sentral ng Pilipinas (BSP) authority to compel banks and other financial institutions to comply with emergency...
The European Union (EU) and the Association of Southeast Asian Nations (ASEAN) must become a reliable and long-term partners, especially at a time when Southeast Asia faces mounting economic strain caused by disruptions in energy supply chains, rising production costs, and broader geopolitical...
The Philippines rolled out one of the most extensive policy responses in Asia-Pacific to cushion the impact of global oil price and supply shocks, even as the country recorded among the steepest increases in fuel prices in the region, according to the Manila-based Asian Development Bank (ADB). An...
The country 's buffer stock in fuel has increased, Malacañang reported. According to the Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT) Committee, the country 's fuel buffer stock is now up to 54 days, from 52. “Sa ngayon ang buffer stock ng supply ng langis ay...
Senate President Pro Tempore Panfilo “Ping” Lacson on Tuesday, April 21 expressed support to the Department of Energy’s (DOE) move to mandate fuel price adjustments, calling it a far better move than leaving the price modifications to the oil firms. Lacson pointed this out saying such...
The Bureau of Customs (BOC) is fast-tracking shipments of essential goods to prevent additional costs under a state of national energy emergency. Responding to an April 8 Presidential directive from the Office of the Executive Secretary (ES), Customs Commissioner Ariel F. Nepomuceno mobilized all...
