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A new loan program of the Korean Government may be tapped to finance at least four pipeline projects of the Department of Public Works and Highways (DPWH) in Central Luzon and Central Visayas Regions. Undersecretary Emil Sadain, in-charge of DPWH infrastructure flagship projects under “Build, Better, More” program of President Ferdinand Marcos Jr. met a […]
The Department of Trade and Industry (DTI), through its financing arm, the Small Business Corporation (SBCorp), will be creating a lending facility to assist pandemic-distressed micro, small, and medium enterprises (MSMEs) in providing the 13th month salary of their workers. Trade Secretary Ramon Lopez however emphasized that the real sustainable solution is the reopening of the […]
The Department of Agriculture (DA) expects the World Bank (WB) to approve an additional $280-million (P14 billion) second additional financing (AF2) to bankroll more agriculture enterprise and rural infrastructure subprojects under the Philippine Rural Development Project (PRDP). The $280-M loan includes a EUR18.3 million (P1 billion) co-financing grant from the European Union (EU). “The WB […]
Commercial hog raisers in areas free from African Swine Fever (ASF) can now expand their operations – to increase hog production and stabilize pork supply and prices – by availing of P15-billion worth of loans from the Land Bank of the Philippines (LandBank). On March 17, 2021, LandBank forged a memorandum of agreement (MoA) with […]
Quezon Governor Danilo Suarez has assured his constituents that he is prepared to secure a P1-billion loan for the purchase of vaccines against the coronavirus disease 2019 (COVID-19) that are enough to cover the 2.2-million residents of the province. This was after Department of Health (DOH) 4-A (Cavite, Laguna, Batangas, Rizal, Quezon) Director Eduardo Janairo […]
The National Electrification Administration (NEA) has extended the payment deadline for amortization of loans extended to electric cooperatives (ECs) that are due for the second quarter of 2020. NEA Administrator Edgardo Masongsong issued Memorandum No. 2020-033, extending the deadline for ECs to settle their loan amortization from June 30 to July 30, 2020. The relief […]
To support micro and small businesses affected by the spread of the coronavirus disease 2019 (COVID-19) in the country, the Small Business Corporation (SBC) of the Department of Trade and Industry (DTI) is setting up a P1-billion Enterprise Rehabilitation Financing facility under the “Pondo sa Pagbabago at Pag-asenso” (COVID-19 P3-ERF). The loan facility will be […]
The National Electrification Administration (NEA) through its Enhanced Lending Program has extended over P700-million worth of loans to electric cooperatives (ECs) in 2019, surpassing the full-year target of P450 million. Data from the NEA Accounts Management and Guarantee Department (AMGD) showed the agency released a total of P705 million to 31 ECs, bulk of the […]
The Philippine government has made history in its bid to prevent the extinction of the Philippine eagle while helping enhance diplomatic relations between the country and Singapore through conservation of the country’s endemic but critically endangered raptor. The Department of Environment and Natural Resources (DENR) recently formalized the wildlife loan agreement on lending a pair […]