Business NEWS

The central bank’s Monetary Board has approved $2.8 billion worth of government or public sector foreign borrowings in the second quarter this year, down by 59 percent from same time in 2020 of $6.84 billion.

The Land Bank of the Philippines (LANDBANK) had so far released more than P13 billion in loans and cash grants to nearly a million farmers and fishermen for this year, the bank’s latest data showed.

Over 250,000 members of the Government Service Insurance System (GSIS) were able to avail of Multi-Purpose Loan (MPL) since last year.

Senator Sherwin Gatchalian is seeking to protect consumers from the fraudulent schemes of some financial service providers and unscrupulous individuals.

President Duterte and Japanese Prime Minister Yoshihide Suga on Wednesday held a telephone summit to discuss among others the impending release of the JY20 billion (roughly P9 billion) Post-Disaster Standby Loan to the Philippines, the status of the subway and railway projects in Metro Manila and China’s aggressive actions in the South China Sea.

Amid the pending amendments to the Agri-Agra Reform Credit of 2009 (Agri-Agra Law), the Land Bank of the Philippines (LANDBANK) said it is open to revisiting its existing loan application requirements to make it easier for farmers and fishermen to borrow from the state-run bank.

The Asian Development Bank (ADB) is urged to substantially expand its loan portfolio in the next five years to support the swift recovery of its developing member-countries from the global economic shock of the pandemic.

Young entrepreneurs, small-scale farmers, and fisherfolks who were affected by the coronavirus disease (COVID-19) pandemic were prodded to avail of the Department of Agriculture’s (DA) loan offers to help them recover and get out of the doldrums.

The government has already secured $1.2 billion in loans to fund the purchase of coronavirus vaccines, but the Duterte administration’s chief economic manager said their rollout hinges on the suppliers’ ability to deliver the ordered doses.

The Japan International Cooperation Agency (JICA) has disbursed another loan to the Philippines in supporting families devastated by recent typhoons in the last quarter of last year.

The Development Bank of the Philippines (DBP)’s loan portfolio grew 13.91 per cent to P374.85-billion for the first nine months of the year, with the bulk, or P175.72-billion, going to the infrastructure and logistics sector, announced DBP President and Chief Executive Officer Emmanuel G. Herbosa.

The Asian Development Bank (ADB) approved a fresh loan to the Philippines to help build elevated pathways in four areas along the Epifanio de los Santos Avenue, commonly known as EDSA.

To make overall customer experience more seamless and convenient, Home Credit—the country’s leading consumer finance company with nationwide store presence and rapidly growing mobile presence—launched an enhanced system for cash loan disbursements where customers can have access to cash in as fast as 1 minute!

Taking out a loan? There are a few things you should know about how the pandemic has affected financing.