International Finance Corp. (IFC), the private-sector lending arm of the World Bank Group (WBG), will invest up to $25 million in a structured debt fund that will finance financial technology (fintech) companies, including those operating in the Philippines. In an April 13 disclosure, IFC said its...
Multilateral lenders including the Asian Development Bank (ADB), the International Monetary Fund (IMF), and the World Bank Group (WBG) are moving to provide immediate financing and coordinated support to countries reeling from the economic fallout of the Middle East war. In a statement on...
The World Bank Group (WBG) said it is stepping up support for emerging market (EM) economies like the Philippines, as the ongoing Middle East conflict drives up commodity prices and disrupts global logistics, posing new risks to growth and food security. In a statement on Thursday, March 26, the...
Following the destructive typhoons that hit the Philippines, the national government is gearing up to tap half a billion dollars in climate funding from the Washington-based World Bank. According to the Department of Finance’s (DOF) Facebook post on Thursday, Nov. 20, the national government is...
The World Bank has extended a $1.7-million, or over ₱98-million, grant to the Philippines to help prepare for a potential project loan that would support early childhood education in the country. In a Sept. 20 letter to Finance Secretary Ralph G. Recto, the World Bank said this financing was...
The Philippines will borrow $800 million, or over ₱45 billion, from the World Bank next year for another development policy loan (DPL) that aims to increase clean energy use and enhance water management in the country. In a Sept. 23 project information document (PID), the Washington-based...
The Marcos Jr. administration will borrow $650 million, or over ₱37 billion, from the World Bank next year to sustain the conditional cash transfers for the Pantawid Pamilyang Pilipino Program (4Ps) and ensure that its youth beneficiaries land jobs. According to a Sept. 20 project information...
The Philippines will repay its latest $700-million (over ₱39-billion) World Bank loan, which is aimed at strengthening community resilience, until 2053. The latest World Bank documents showed that Finance Secretary Ralph G. Recto, on behalf of the Philippine government, signed the loan agreement...
Real estate giant Ayala Land Inc. (ALI) will be raising ₱10 billion this month from a multilateral sustainability-linked loan as part of the ₱50 billion in funds it will be securing in the second half of the year. In an interview, ALI Chief Finance Officer (CFO) Augusto Bengzon said that ₱30...
Another loan from the World Bank is forthcoming for the Philippines, this time to finance the country’s fight against epidemics by strengthening both human and animal health systems to improve pandemic preparedness. According to a Aug. 12 concept environmental and social review summary...
The World Bank Group’s (WBG) International Finance Corp. (IFC) is considering another round of investment financing support for Ayala Land Inc. (ALI), including for the property giant’s ongoing renovation and expansion of its flagship malls to make them “greener.” A World Bank document seen...
After the successful bidding to privatize the Caliraya-Botocan-Kalayaan (CBK) hydroelectric power plants, the government and private-sector players may next look forward to another public-private partnership (PPP) in rehabilitating the decades-old Agus-Pulangi hydropower complex in Mindanao. Power...
