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The Senate approved, on third and final reading, a bill seeking to augment the capacity of the Development Bank of the Philippines (DBP) to support important sectors and significantly contribute to the economic development of the country. Senator Mark Villar, author and sponsor of Senate Bill No. 2804 otherwise known as the New DBP Act, […]
Senator Mark Villar delivered his sponsorship speech on the proposed amendments to the charter of the Development Bank of the Philippines. Senate Bill No. 2804 authored by Villar and Senate President Chiz Escudero has undergone multiple consultative meetings, public hearings, and technical working group sessions to craft Committee Report No. 308, which Senator Mark sponsored […]
Senator Chiz Escudero has called for more “earning guarantees” in the Maharlika Fund bill, which would allow the sovereign fund to surpass the 6% income threshold that two state-owned banks presently earn from their investments. Without “benchmark in yields,” Escudero warned that the billions the Land Bank of the Philippines (LBP) and the Development Bank […]
The minority bloc in the House of Representatives will not oppose the planned merger of the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP) if the former’s mandate to provide direct credit support to small farmers and fisherfolk is kept intact. “We must stress that Land Bank is duty […]
House Appropriations Committee Chairman Rep. Karlo “Ang Probinsyano” Nograles warned the National Food Authority (NFA) against continuing its fund diversion spree, noting it could influence other agencies to likewise violate the law. “Kung ginagawa ng NFA yan, (If NFA has been doing this) nothing will stop other agencies and departments from also diverting their funds […]