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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 readying funds for big projects

The country's largest banks have set up large debt offering programs to diversify funding sources amid rising demand for long-term loans for big-ticket projects such as infrastructure. Metropo.....»»

Category: newsSource:  philippinetimesRelated NewsSep 21st, 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

Asean needs massive injection of infrastructure funding-World Bank exec

VIENTIANE - Asean needs about US$3.4 trillion during 2013-2030 to finance infrastructure projects so that the region can narrow its development gap and achieve its objective of becoming a single ma.....»»

Category: newsSource:  philippinetimesRelated NewsOct 4th, 2018

NEDA’s Infracom approves three feasibility studies

The inter-agency Infrastructure Committee (Infracom) of the National Economic and Development Authority (NEDA) has approved another batch of funding support for the feasibility studies of three infrastructure projects. NEDA’s Infracom approves three feasibility studies The inter-agency Infrastructure Committee (Infracom) of the National Economic and Development Authority (NEDA) has approved another batch of funding support for… link: NEDA’s Infracom approves three feasibility studies.....»»

Category: newsSource:  manilainformerRelated NewsSep 23rd, 2018

Lagman denies getting ‘pork’ in 2019 budget

Albay 1st District Rep. Edcel Lagman on Tuesday belied claims that he was among those congressmen who benefited from the "P55-billion insertions" in the proposed 2019 budget.   "I never lobbied for any project," he told reporters in an interview when asked about claims that P1.29 billion was allocated to his district.   "I have no participation whatsoever in the allocation of funds or the funding of projects as contained in the President's National Expenditure Program (NEP)," he added in a statement.   Lagman even found it ironic that he, an opposition lawmaker, would receive such an amount after he got zero infrastructure budget in 2018 under former ...Keep on reading: Lagman denies getting ‘pork’ in 2019 budget.....»»

Category: newsSource:  inquirerRelated NewsSep 18th, 2018

Maduro says China to finance failing oil industry

CARACAS, Venezuela -- Venezuelan President Nicolas Maduro said Saturday he had new commitments from Beijing on funding for the oil industry on which crisis-hit Caracas relies. Oil output is the main generator of Venezuela's income but has fallen to its lowest level in three decades, with the South American country's state-led economy in free-fall. Analysts blame years of neglect during which state oil firm PDVSA's infrastructure became rundown and exploration was curbed, while oil revenues were used to plug the fiscal deficit. Now, however, "there are financing commitments to increase oil production, gold production as well as investment in more than 500 development projects...Keep on reading: Maduro says China to finance failing oil industry.....»»

Category: newsSource:  inquirerRelated NewsSep 16th, 2018

Lacson questions DPWH’s unresolved right-of-way issues on road projects

Senator Panfilo M. Lacson on Monday, Sept. 3, questioned anew the unresolved right of way issues of the Department of Public Works and Highways’ (DPWH) ongoing road projects. At the budget hearing of the DPWH, Mr. Lacson maintained that right of way issues should be settled first before funding an infrastructure project, citing Republic Act […] The post Lacson questions DPWH’s unresolved right-of-way issues on road projects appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsSep 3rd, 2018

AIIB eyes funding 2 big-ticket PH projects

The China-led Asian Infrastructure Investment Bank (AIIB) is looking into extending loans for two major road projects in the Philippines, according to the Department of Finance. The AIIB was also c.....»»

Category: newsSource:  philippinetimesRelated NewsAug 31st, 2018

PH urged to tap $1-B India credit line

The Duterte administration should consider tapping Indian funding for its “Build Build Build” program, New Delhi’s envoy to the Philippines said on Wednesday. “The Government of India has, in fact, a $1 billion line of credit for Asean (Association of Southeast Asian Nations) countries for any infrastructure projects that they may wish to do especially [...] The post PH urged to tap $1-B India credit line appeared first on The Manila Times Online......»»

Category: newsSource:  manilatimesRelated NewsAug 22nd, 2018

Economic team to review China funding for projects

The country's economic managers and infrastructure team will be in Beijing on Aug. 22-24 to firm up with their Chinese counterparts the 'Build, Build, Build' projects and financing s.....»»

Category: newsSource:  philippinetimesRelated NewsAug 20th, 2018

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