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A total of 27 electric cooperatives (ECs) applied for state-funded loans to finance their capital expenditures (CapEx), among other projects, by end of August 2024, the National Electrification Administration (NEA) has reported. Latest data from the NEA Accounts Management and Guarantee Department (AMGD) showed that 22 ECs borrowed at least P780-million for their CapEx projects. […]
The House Committee on Appropriations continued its scrutiny of the Department of Health (DOH) and Philippine Health Insurance Corporation’s (PhilHealth) budgetary performance, focusing on pandemic-related expenditures, excess funds and the high cost of COVID-19 testing fees.Iloilo Representative Janette Garin sought clarification on the agency’s $100 million, $485.18 million and $300 million borrowings to support its […]
Union of Local Authorities of the Philippines (ULAP) president and Quirino Governor Dax Cua urged his fellow local leaders to take advantage of a government loan program to help local government units finance tourism facilities and services. “As we push towards full tourism recovery and position ourselves as a tourism powerhouse in Asia, I urge […]
Senator Cynthia Villar welcomed President Ferdinand Marcos Jr. signing into law of a bill condoning loans of farmers and agrarian reform beneficiaries (ARBs). The President signed Republic Act No.11953 or the New Agrarian Emancipation Act, which condones all principal and interests of loans of 610,054 ARBs arising from the award of agricultural lands under the […]
Rizal 4th District Rep. Fidel Nograles lauded the Department of Education for its efforts to protect teachers from falling prey to loan sharks by providing them legal and financial advice. “Magandang hakbang ang planong ito ng DepEd sa pangunguna ni Vice President Sara Duterte upang maprotektahan ang ating mga guro laban sa mga loan shark […]
Senator Grace Poe urged the government to tap other potential investors to get the country’s railway projects back on track while ensuring a fair deal that will not financially overwhelm Filipinos. “It’s not just about the construction of railways. We need to bridge our regions that will not unduly burden our taxpayers,” Poe said in […]
To support the growth of micro-entrepreneurs, the Quezon City Government has reopened the application process for the Pangkabuhayang QC program that provides a financial grant and livelihood training for aspiring micro-entrepreneurs. Led by the Small Business and Cooperatives Development and Promotion Office (SBCDPO), the Pangkabuhayang QC program provides ₱10,000-₱20,000 additional capital for displaced/resigned employees, micro-entrepreneurs/vendors, […]
The administration of President Rodrigo Duterte did a fair job in borrowing money amid the pandemic, Senator Sonny Angara said. Angara, chair of the Senate committee on finance, said he understands the need for the government to borrow money to support the economy and provide for the needs of its constituents. “It’s been a difficult […]
With the end in view of enhancing access of agricultural communities to financial services and programs that increase productivity, the Senate ratified the bicameral conference committee report on the bill repealing Republic Act No. 10000 or the Agri-Agra Reform Credit Act of 2009. Senator Cynthia Villar, the chairperson of the Committee on Agriculture, Food, and […]
Senator Sonny Angara called on the Small Business Corporation (SBCorp) and the Department of Tourism (DOT) to utilize the unspent funding from Bayanihan to Recover as One Act (Bayanihan 2) to help the stakeholders in the tourism industry prepare for the restart of activities after close to two years of hibernation. As the sponsor of […]