Advertisements


Banks ready to back up funding for infrastructure projects

Local banks have expressed support for the government’s massive infrastructure program, saying they are ready to provide financing in case funding delays are encountered by the projects......»»

Category: financeSource: philstar philstarJun 13th, 2018

Banks ready to fund infrastructure projects& mdash;BDO Capital

Banks ready to fund infrastructure projects—BDO Capital Source link link: Banks ready to fund infrastructure projects—BDO Capital.....»»

Category: newsSource:  manilainformerRelated NewsJun 13th, 2018

Crowding in private sector to boost infrastructure dev’t

By Surya Bagchi IN the world of infrastructure, the funding deficit is a well-established fact. Asia needs US$26 trillion by 2030 for new buildouts, and Africa requires US$93 million a year to scale up projects. Much of the money has so far come from direct government financing or funding support from development banks. Infrastructure projects […] The post Crowding in private sector to boost infrastructure dev’t appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsApr 25th, 2018

Cash-rich banks don’t view ODA as competition for funding projects

BY  MELISSA LUZ T. LOPEZ THE DUTERTE GOVERNMENT’S P8-trillion infrastructure spending plan was what local lenders were waiting for. When it was announced in April, it created a stir in the industry for obvious reasons. By helping lend money to big-ticket projects, local banks would be able to deploy cash and earn more from loans, […] The post Cash-rich banks don’t view ODA as competition for funding projects appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsJan 7th, 2018

Local banks capable of funding infra projects — Maynilad exec

MANILA, Philippines — With the government allotting some P9 trillion for infrastructure development in the next six years, a key executive of one of the coun.....»»

Category: financeSource:  philstarRelated NewsSep 30th, 2017

NEDA, DoTr to work on airports’ design, funding

THE National Economic and Development Authority (NEDA) is coordinating with the Department of Transportation (DoTr) on designing and funding airport projects to be implemented under the government’s “Build Build Build” infrastructure program. According to NEDA Assistant Secretary Jonathan Uy, these projects will mostly use public funds. The Transportation department, however, is also eyeing private-sector participation. [...] The post NEDA, DoTr to work on airports’ design, funding appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsJul 31st, 2018

PRDP gets P9B for infra projects

DAVAO CITY (MindaNews/25 July) – The Philippine Rural Development Program (PRDP) received a fresh funding for infrastructure projects worth P9.068 billion from the World Bank approved last May this year, an official said. Engr. Danilo Alesna, deputy project director PRDP-Mindanao, said in an interview on Wednesday they have yet to determine what infrastructure projects would […].....»»

Category: newsSource:  mindanewsRelated NewsJul 25th, 2018

PFF President Nonong Araneta reveals exciting times ahead for Philippine football

Mariano “Nonong” Araneta is pumped up for Philippine football, and it's easy to see why. The Philippine Football Federation president has divulged exciting details of the federation's plans to develop the national training center in the San Lazaro Leisure Park in Carmona, Cavite. Plus the Azkals are also getting ready for a busy few months ahead. Araneta is keen on ramping up the federation's partnership with the Manila Jockey Club in SLLP, where the FIFA Artificial Turf Pitch is situated. Already a training ground for youth national teams and club sides, Araneta says that lighting towers will soon be installed that will permit nighttime play. “We are just waiting for AFC because the lights will be bidded out,” Explains Araneta. “Hopefully they will be installed by the end of the year.” The lights will feature an intensity of 900 lux, more than the accepted 800 lux minimum for televised matches. The lights will complement the hundreds of new seats that have already been put in place around the pitch. But that is only the tip of the iceberg when it comes to what the PFF has planned for Carmona. “We have spoken to Manila Jockey Club about transferring our headquarters there,” says Araneta. “We are ready to start the bidding and construction.” The PFF is planning to purchase a 3000 sqm parcel of land within the San Lazaro Leisure Park and build a complex with dormitories, classrooms for coaching and referee courses, and a gym. “The funds are ready, initially we will be getting US$1.5 Million from FIFA,” says Araneta, who says the federation will be selling their current building in Pasig to help fund the move. But Araneta says that another option is available, to buy a different 2000 sqm plot of land beside the artificial pitch that is separate from the 3000 sqm parcel. There a grandstand could be constructed, transforming the pitch into a stadium. The headquarters could then be situated under the seating while the other site houses the dorms, classrooms, and gym. More fields are also in the pipeline in the training center. Araneta says that two artificial turf mini-pitches measuring 40 by 20 meters will be made right beside the main pitch. These will also be lighted and can accommodate recreational play and festival competitions. Incredibly, there will be yet another pitch in the training center, a natural grass regulation field within the Manila Jockey Club's racetrack. “That is for our national teams so that if they are set to play on grass, they can train there,” explains Araneta. The middle of the racetrack already has a grass area where football is played. Manila Jockey Club and PFF have yet to decide if the new grass pitch will be a brand new one or if the current surface will be improved. “We want our activities to be there,” declares Araneta. “We have already had coaching seminars there. Schools can also use our facilities. The pitch is there to be used not to be seen,” he adds with a chuckle. Araneta is a former national team player himself and is also optimistic about the near future with the Azkals. The squad is facing two big tournaments in the coming months: the AFF Suzuki Cup in November and December and their maiden appearance in the AFC Asian Cup in January 2019. Araneta says the Azkals will travel to Bahrain during the September FIFA window to play a Bahraini club side, likely on Sept 7, before tangling with the Bahrain national team on September 11. There will also be a FIFA window in October, and Araneta says the Filipinos can enjoy at least one friendly at home. Araneta hopes that Rizal Memorial will still be available before it gets spruced up in preparation for the country's hosting of the 2019 SEA Games. “Our fans will get to watch our new team,” said the president with evident pride. Crunch time begins in November, with the Azkals in a five-team round-robin group with a new home-and-away format. The Philippines will host Singapore in Bacolod's Panaad Stadium on November 13 before playing either Brunei or Timor Leste away four days later. The two ASEAN minnows will square off in a two-legged qualifying series in September to to determine who makes the group stage. On November 21 the Azkals entertain Thailand in Panaad in what promises to be a mouthwatering contest, before closing their group stage against Indonesia, probably in Jakarta, on November 25. The semis will run from December 1 to 6, with the two-legged finals being held on the 11th and 15th. After a quick Christmas break the team jets off to the Middle East on December 26, where final preparations for the Asian Cup will commence in earnest. There are plans to play in Qatar against either a club team or their national side, and then perhaps a game in Kuwait before the team goes to the United Arab Emirates. The group schedule is as follows: January 7 against Korea Republic in Dubai, January 11 versus China in Abu Dhabi, then January 16 against Kyrgyzstan in Dubai. The top two will advance to the knockout round, but the Philippines can also sneak through as one of the better third-placers. But the senior national team isn't the only competition Pinoy football fans can focus on this year. The boys U15 national team were in action while the U16 girls play in an AFC competition. The U19 men also played in the AFF U19 Championship, where they beat Singapore 2-1. The senior ladies team also notched a win against the Lion City in their AFF tournament. Araneta says the very successful PFF Women's League from last year will be run again, and that the PFF also plans a youth league. Both will be partly funded by FIFA. Of course the Philippines Football League will continue, with a League and Cup phase. The realization of these plans will be one of the achievements of Araneta's presidency. Another will be his membership in the 33-person FIFA Council, which acts as a board of directors of the organization. Araneta was recently in Russia to watch the 2018 FIFA World Cup along with other council members. Araneta is one of six Asians in the FIFA Council, alongside members from China, Malaysia, Korea Republic, Bahrain, and Bangladesh. He is the first Filipino to serve in this level of leadership in FIFA. The Barotac Nuevo, Iloilo native freely explains the benefit the country can enjoy from this connection. According to Araneta “we have firsthand information on funding, and the Philippines is part of the body that will decide on what's best for football.” He says that in the next cycle of FIFA funding he might be able to acquire an additional US$ 2 million for the development of the training center. The PFF President also enjoys the inside track when it comes to acquiring development funds from the Asian Football Confederation, since he also serves as the Chairman of the AFC Finance Committee. “All budgets pass through us. We know the funding, the revenues. We know when to ask for projects. Like the lights in Carmona, that was approved by the AFC development committee,” continues Araneta. But being part of the FIFA Council is not all glitz and glamor, confesses Araneta. He mentioned a recent Council meeting in Bogota, Colombia, that necessitated an arduous 33-hour trip through Europe for a stay that lasted just two days. Sometimes deliberations in FIFA meetings can stretch for as long as six hours. Immediately after the Bogota confab he jetted off to Kuala Lumpur, Malaysia, for another meeting. “It's no joke,” says Araneta, who is 64 years old. But the former striker and defender has no complaints and reveals his motivation to keep on going at the job. “I went to the Youth Football League. I visited the Allianz National Youth Futsal Invitational. You see the kids playing there, you see kids play everywhere. The enthusiasm of the players is what keeps me going.” - RELEASE.....»»

Category: sportsSource:  abscbnRelated NewsJul 18th, 2018

PH warned against heavy dependence on China for funding

The Philippines must avoid too much reliance on China in funding big-ticket infrastructure projects under its "Build, Build, Build" program, a leading economist said. Veteran economist Bernardo Villegas of the University of Asia and the Pacific (UA&P) welcomed indications that President Duterte ---after rebalancing trade and investment relations away from the West---was now doing "a lot of rebalancing away from China." At the beginning, Villegas said many people were concerned that Duterte was heading to the extreme by pivoting from the United States to China. He, however, also recognized the President's moves to bring into the equation other Asian neighbors. "We're now begi...Keep on reading: PH warned against heavy dependence on China for funding.....»»

Category: newsSource:  inquirerRelated NewsJul 18th, 2018

Wanted: Upgrades in water works, more access to parks in LA County

    LOS ANGELES -- Improvements to water infrastructure and access to public parks throughout Los Angeles County funded by a property tax hike are a critical investment in the future, according to the LA Department of Public Works (LA-DPW).   County's Board of Supervisors on Tuesday, July 17, the will consider a funding measure developed by the Los Angeles Flood Control District (LA-FCD). The Safe Clean Water-LA Program would institute a new parcel tax to pay for projects designed to collect, clean and repurpose rainwater all over the County. The program intends to triple the current capacity for storm water recapture, while adding park space and new jobs t...Keep on reading: Wanted: Upgrades in water works, more access to parks in LA County.....»»

Category: newsSource:  inquirerRelated NewsJul 9th, 2018

Despite ‘Build, Build, Build’ push, DPWH spent only a third of 2017 budget

The Duterte administration's infrastructure push continues to be hampered by bureaucratic bottlenecks, as shown by the Department of Public Works and Highways' use of only a third of its P662.69-billion funding in 2017. Even as the DPWH vastly improved its ability to earmark its budget for various purposes, the Commission on Audit found a slight decline in the agency's actual spending of the funds. In its 2017 annual audit report, the COA said only P222.66 billion, or 33.6 percent, of the DPWH's allotment was disbursed "due to the delayed/non-implementation of infrastructure projects." The year 2017 saw a slight dip from the disbursement rates of 34.14 percent (P185.12 billi...Keep on reading: Despite ‘Build, Build, Build’ push, DPWH spent only a third of 2017 budget.....»»

Category: newsSource:  inquirerRelated NewsJul 8th, 2018

NEDA bullish on project completion

THE GOVERNMENT now expects to complete nearly half of its 75 flagship infrastructure projects by the time President Rodrigo R. Duterte ends his six-year term due to efforts to address bottlenecks in approval, funding and implementation, the National Economic and Development Authority (NEDA) said in a briefing on Wednesday......»»

Category: financeSource:  bworldonlineRelated NewsJun 27th, 2018

Additional AIIB funding sought for infrastructure projects

The government is seeking additional funding assistance from the Asian Infrastructure Investment Bank for three other big-ticket infrastructure projects, the Department of Finance said yesterday......»»

Category: financeSource:  philstarRelated NewsJun 27th, 2018

Gov’t pitching more projects for AIIB funding

THE PHILIPPINES is seeking Asian Infrastructure Investment Bank (AIIB) funding for more projects, the Department of Finance (DoF) said on Tuesday......»»

Category: financeSource:  bworldonlineRelated NewsJun 26th, 2018

Japan commits P20.6 B loan for Phl infra

The Japanese government has expressed its intent to provide about ¥42.47 billion (P20.6 billion) worth of funding support for two of the Duterte administration’s infrastructure projects, the Department of Finance (DOF) said over the weekend......»»

Category: financeSource:  philstarRelated NewsJun 24th, 2018

With 10 Build projects in the bag so far, PH says it s ready for business

With 10 big-ticket infrastructure projects worth a total of over P59 billion moving to the construction stage this year, the Philippine government is enjoining global institutional investors to pou.....»»

Category: newsSource:  philippinetimesRelated NewsJun 22nd, 2018

ADB raises funding for PH

The Asian Development Bank will lend the Philippines a higher $945 million this year mainly for infrastructure projects as part of the Manila-based multilateral lender's commitment to support the Duterte administration's ambitious "Build, Build, Build" infrastructure program. The state planning agency National Economic and Development Authority said that during a meeting between Philippine officials and executives of the ADB's Philippine country office last month, the latter said that their lending pipeline for 2018 consisted of two policy-based loans (worth $600 million), one result-based loan ($300 million) as well as two other projects ($45 million). In December last year, the A...Keep on reading: ADB raises funding for PH.....»»

Category: newsSource:  inquirerRelated NewsJun 12th, 2018

Hope Solo says don t vote for US World Cup bid

By Rob Harris, Associated Press LONDON (AP) — A World Cup winner and Olympic champion with the United States, Hope Solo now wants her country to lose one of its biggest soccer contests: FIFA's vote on the 2026 World Cup host. "I can't say it should be awarded to Morocco," Solo told The Associated Press. "But I don't think it should go to the United States, and that's hard to say." Concerns about the financial dealings of the United States Soccer Federation and the closed men's league system led Solo to that conclusion. By choosing to actively campaign against the U.S.-led North America bid, Solo risks alienating herself further from the soccer community in her homeland. The bid leadership was exasperated when informed Solo was undermining their efforts heading into Wednesday's vote, dismissing her criticism of the governance of soccer but declining to go on the record in detail. This is not an isolated eruption against U.S. Soccer. Solo has reason to be disgruntled. After 202 international appearances — a record for an American goalkeeper — Solo was fired over an outburst at the 2016 Olympics against the opposition and a series of off-the-field controversies. In an attempt to take control of the organization that ostracized her, Solo ran for the U.S. Soccer Federation (USSF) presidency in February. There was a resounding verdict: Solo garnered only 1.4 percent of the vote to finish last out of five candidates. Solo still wants to be heard to try to secure equal pay and equal treatment for the U.S. women's team, and force Major League Soccer to open up the closed competition. Her gripes provide a counterpoint to the loyal championing of the American World Cup bid by David Beckham in a video released by MLS, where the former England captain is launching a team in Miami. That is only possible because Beckham secured a cut-price deal for an expansion franchise as part of his contract to play for the Los Angeles Galaxy. "That is not helping the sport in America," Solo said. "I want to see promotion-relegation in the NASL and the MLS. Right now it's true, you have rich ownership groups owning MLS teams and they're only getting richer and they're alienating everybody else. "A new ownership group can't just come in and purchase a team even though they have the financial security, even though they have the commitment. It's controlled by those single individuals at Soccer United Marketing, MLS in particular, (Commissioner) Don Garber." FIFA's statutes enshrine the principle of a system of promotion and relegation in domestic competitions to ensure participation "shall depend principally on sporting merit." The regulations then say that qualification can be subject to other criteria including "financial considerations." MLS stridently defended itself against Solo's criticism, saying team owners have invested more than $3 billion in stadium and training facilities to grow the sport because it's a closed league. "The structure that we have has given owners certainty to make that type of investment," MLS President and Deputy Commissioner Mark Abbott told the AP. "Had we had a system of promotion and relegation it would not have been possible to generate that level of investment from owners, local communities or private banks that help to fund some of these facilities." Solo also questioned Garber's role overseeing MLS and Soccer United Marketing, which is the exclusive marketing partner of U.S. Soccer, while also sitting on the USSF board. "There are too many conflicts of interest that need to be addressed immediately," Solo said. Garber represents MLS on the U.S. Soccer board but recuses himself from discussions about the "sanctioning of other professional leagues in the U.S.," Abbott responded on behalf of the commissioner. Turning on the USSF, Solo said the organization lacks integrity and highlights the absence of an independent ethics committee, which FIFA has. She also filed a claim with the U.S. Olympic Committee, saying the USSF violates a law that offers protections for athletes, alleging improper conditions for soccer players. "If you're an Olympic sport, your national governing body, every NGB has an obligation to give resources and funds to all of its members, not just professional and amateur players or Paralympic team women's teams or youth teams," Solo said. "But what U.S. Soccer does is they give the money directly to the pro teams. So it's in violation of the Ted Stevens Act and I have a hearing in a couple weeks in front of the Olympic Committee. "I also met with Congress members recently. I went to Capitol Hill, met with Republicans and Democrats, and there's a lot of interest to make sure that U.S. Soccer is an organization that actually is run transparently, has integrity and is an open and honest national governing body." Up to 207 soccer federations will vote next Wednesday in Moscow on whether North America or Morocco should host the 2026 World Cup, or the bidding should be reopened by choosing "none of the above." In FIFA's inspections report, North America's bid, which includes Canada and Mexico as minority partners, scored 402 out of 500, while Morocco was marked 275 in part due to a lack of infrastructure. "Hopefully FIFA can stand up and step in and say, 'If we're going to reward you, let's look at everything and point out where you can fix certain things,'" Solo said. Her call for greater transparency from the USSF came after speaking at the London launch conference for the Foundation for Sports Integrity, which has one named official who would not disclose the source of funding for the group or who paid to hire lavish facilities at a Four Seasons hotel. "I want to put my faith and trust in people," Solo said. "Who's funding it? That's no different from the way a lot of organizations are run.".....»»

Category: sportsSource:  abscbnRelated NewsJun 8th, 2018

Big banks ready for new rule – Moody’s

Moody’s Investors Service believes the biggest Philippine banks will be able to comply with new liquidity requirements set to take effect next year. In a statement on Thursday, the debt watcher said that 10 rated Philippine banks would benefit from adoption of the net stable funding ratio (NSFR), recently approved by the Monetary Board as [...] The post Big banks ready for new rule – Moody’s appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimes_netRelated NewsJun 7th, 2018

Duterte back in PH after South Korea visit

President Rodrigo Duterte arrived in Manla shortly beforemidnighton Tuesdayfrom his three-day official trip to South Korea. The President's commercial flight arrived at11:40 p.m.at the Ninoy Aquino International Airport (Naia) Terminal 2. His flight left Sepul at8:50 p.m.(7:50 pmin Manila). President Duterte returned home with a $4.9-billion investment deals and $1-billionofficial development assistance (ODA) for the Philippines' infrastructure projects. During his visit to Seoul, the President met with South Korean President Moon Jae-in where the two leaders agreed to strengthen the diplomatic relations between Manila and Seoul as well as increasing trade and investment wit...Keep on reading: Duterte back in PH after South Korea visit.....»»

Category: newsSource:  inquirerRelated NewsJun 5th, 2018

Banks’ liquidity buffer to be required at 1 year

The Bangko Sentral ng Pilipinas is requiring banks to hold enough liquidity or stable sources of funding for a one-year period starting next year to provide a ready buffer and at the same time further strengthen the industry......»»

Category: financeSource:  philstarRelated NewsMay 30th, 2018