MANILA, Philippines – Washington-based multilateral lender World Bank and the Philippine government on Monday, June 26, signed four loan agreements totaling $1.14 billion to finance various initiatives to strengthen the country’s climate resilience, agricultural productivity, and quality of education.
The press release from the Department of Finance did not mention the interest rate and tenor for the loans. The Bureau of the Treasury earlier reported that outstanding debt stood at P13.9 trillion as of end-April, P54.24 billion more than in March, owing to the weakening of the peso against the US dollar.
The Marcos administration is aiming to borrow as much as P2.46 trillion for 2024, an 11% increase from 2023.
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Philippines signs $1.14-B worth of loans with World BankThe biggest of the agreements is $750 million for the Philippines First Sustainable Recovery Development Policy Loan (DPL) that will support the country’s policy reforms that target environmental protection and climate resilience.
Source: gmanews - 🏆 11. / 68 Read more »
World Bank provides loans to support economic recovery in PhilippinesMANILA, Philippines - The Philippines and the World Bank (WB) on Monday signed several loan agreements amounting to 1.14 billion U.S. dollars to finance various government initiatives aimed at accelerating economic recovery.
Source: manilabulletin - 🏆 25. / 51 Read more »
Source: inquirerdotnet - 🏆 3. / 86 Read more »