RCBC funds P55 billion green, social projects

Yuchengco-led Rizal Commercial Banking Corp. has financed P55 billion worth of green and social projects as it continues to push sustainable financing......»»

Category: financeSource: philstar philstarAug 22nd, 2021

RCBC funds P56 billion green, social projects

Rizal Commercial Banking Corp. has financed P56 billion worth of green and social projects as it continues to push sustainable financing amid the pandemic......»»

Category: financeSource:  philstarRelated NewsNov 16th, 2020

BSP invests $550 million in sustainable bonds

The Bangko Sentral ng Pilipinas raised its investments in sustainable and green bond funds to $550 million as it continues to ramp up sustainable finance framework by encouraging banks to issue more green, social, and sustainability bonds......»»

Category: financeSource:  philstarRelated NewsJul 31st, 2021

Unspent P6-B Bayanihan 2 fund no longer for SAP — DBM

The government can no longer use the P6 billion in unspent funds from Bayanihan 2 for a new round of social amelioration program, according to the Department of Budget and Management......»»

Category: financeSource:  philstarRelated NewsJul 31st, 2021

P10.4B SAP fund nawawala; paggamit ng Star Pay app kinwestyon ni Pacquiao

Manila, Philippines — Ibinunyag ni Sen. Manny Pacquiao na nasa P10.4 bilyon ng Social Amelioration Program funds ang nawawala. Tinatayang nasa 1.3 milyong benepisyaryo ang hindi nakakuha ng ayuda dahil umano sa hindi malamang e-wallet Star Pay para sa programa. “Nalulula po ako. Doon po sa binanggit ko na isang isyu lamang P10.4 billion na […] The post P10.4B SAP fund nawawala; paggamit ng Star Pay app kinwestyon ni Pacquiao appeared first on REMATE ONLINE......»»

Category: newsSource:  remateRelated NewsJul 3rd, 2021

Money for implementation-ready projects to stay as gov t seeks funds for Bayanihan 3

Funds for high-impact state projects would be left untouched in the search for cash to finance a new pandemic relief bill, which could cost the government P405.6-billion in additional spending......»»

Category: financeSource:  philstarRelated NewsMay 24th, 2021

The United Kingdom has launched over 27.74 billion US dollars of funds to promote green shipbuilding

The policy referenced in this document is intended to inform users of Mondo Maritimo Regarding our company’s procedures regarding the processing of personal data collected.....»»

Category: newsSource:  thedailyguardianRelated NewsMar 22nd, 2021

BSP leads in mobilizing funds for green projects

The Bangko Sentral ng Pilipinas is collaborating with the Department of Finance and other key government agencies to facilitate the mobilization of funds toward green and sustainable projects......»»

Category: financeSource:  philstarRelated NewsMar 10th, 2021

‘Senators touched DPWH fund, too’

Senator Panfilo Lacson may have flagged some questionable infrastructure projects pushed by the House of Representatives in the proposed P4.5-trillion 2021 national budget, but he found that P10 billion of this fund was not taken off the Department of Public Works and Highways (DPWH). While they were branded as “realignments,” these funds were only shifted […] The post ‘Senators touched DPWH fund, too’ appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsDec 2nd, 2020

DSWD called out for P83-billion unused funds

The vice chairman of the House committee on appropriations on Friday appealed to the Department of Social Welfare and Development (DSWD) to spend over P83 billion in unused funds for typhoon victims before their validity expires at the start of 2021......»»

Category: newsSource:  thestandardRelated NewsNov 21st, 2020

DBM Covid-19 fund releases reaches P481 billion

State funds provided to various government agencies for their coronavirus disease 2019 (Covid-19) pandemic response programs have so far reached P481.61 billion, data from the Department of Budget and Management (DBM) showed on Monday. Of the amount released as of November 11, the bulk, or P217.41 billion, went to the Department of Social Welfare and […].....»»

Category: newsSource:  manilatimes_netRelated NewsNov 17th, 2020

Coconut farmers are poorest agri people

Coconut farmers are now the poorest people in the agriculture sector, much poorer than when they were 30 years ago.  This was the assessment of Danny Carranza, a coconut farmer and member the Kilusan Para sa Tunay na Repormang Agraryo at Katarungang Panlipunan (Katarungan). (MB FILE, Keith Bacongco) Carranza blamed the coconut farmers’ poverty on the low copra prices, inability to intercrop and modernize, and now the COVID-19 pandemic, which isolates some of them who are living in far-flung areas.                “If you’re going to compare, we are much poorer now than we were back in 1990,” said Carranza. Carranza said the “crisis in coconut” that started in the 1990s was never resolved, but even worsened especially when farmers failed to diversify and intercrop before copra prices, dictated by world prices, crashed in 2019 and in the previous years.              “The price of copra is improving, reaching P16/kg from P8/kg last year, but that is still not enough,” Carranza said, adding that farmers’ income from a hectare of coconut plantation does not reach P10,000 anymore.            At present, about 95 percent of the 3.5 million hectares of coconut farms in the Philippines are meant to produce copra, which is the material for coconut oil manufacturing.  But with the collapse of the prices of coconut oil in the world market over the last two years, prices of copra have also dropped plunging farmers into deeper poverty. According to the Philippine Coconut Authority (PCA), prices of copra at farmgate as of October 15 stood at P21.86/kg, which is higher compared to P14.55/kg price level during the same day last year.           But Carranza said that it normally takes three to four years for coconut farmers to recover when a typhoon hits their plantation because coconut trees don’t recover fast. Several typhoons have devastated coconut trees lately.  “Farmers’ income is dictated by world prices, they don’t have enough funds to modernize their industry, and the government has failed to support them in the diversification of their coconut plantations,” Carranza said.  “Then things got worse because of climate change. And then, because of lockdown, a lot of farmers who live in far-flung areas were isolated and couldn’t deliver their produce,” he added.   In 2018, farmers working in coconut farms only received a daily nominal wage rate of P264, based on Philippine Statistics Authority (PSA) data.   To alleviate the current situation of coconut farmers, the Department of Agriculture (DA) has announced that it will soon distribute a P5,000 worth of assistance to coconut farmers, which will be withdrawn from the agency’s P24-billion stimulus package granted under ‘Bayanihan 2’. The problem, according to Carranza, is that the assistance may only benefit farmers who own 1 hectare of coconut plantations or less. The PCA is also setting aside a portion of its budget to finance on-farm and off-farm livelihood projects for coconut farmers such as intercropping and livestock. Meanwhile, Pambansang Kilusan ng Magbubukid sa Pilipinas (PKMP) Chairman Eduardo Mora said the legal team of Senator Bong Go pledged to help coconut farmers push for provisions that they want to be included in the Coco Levy Act, the proposed law that will pave the way for the release of the P100-billion coco levy fund.           “It was the office of Senator Bong Go that informed us that the senate version of Coco Levy Act was already passed in third and final reading. But his legal team also assured to help us in the congress version of the law, in bicameral, and in the drafting of the IRR [implementing rules and regulation] of the law,” Mora told Business Bulletin.         Mora’s group, which represents more than a hundred thousand coconut farmers in the country, has been calling for increased farmers’ representation in the planned coconut trust fund management committee.         Coconut farmers also don’t want the funds to be handled by PCA, Mora said.         Business Bulletin already sought for Agriculture Secretary William Dar’s reaction regarding the farmers’ opposition of the Coco Levy Act, but he hasn’t responded yet. .....»»

Category: lifestyleSource:  abscbnRelated NewsOct 24th, 2020

Landbank to issue P3 billion sustainability bonds

State-run Land Bank of the Philippines plans to raise at least P3 billion from the issuance of its first-ever sustainability bonds to fund environmental and social projects......»»

Category: financeSource:  philstarRelated NewsOct 24th, 2020

Government foreign borrowings surge to $13 billion in 9 months

Foreign borrowings by the national government surged by 44.2 percent to $13.14 billion in the nine months to September as the country turned to the offshore debt market for more funds to bankroll key infrastructure projects and to control the COVID-19 pandemic......»»

Category: financeSource:  philstarRelated NewsOct 24th, 2020

DSWD has distributed P83.6 B SAP subsidies

More than P83.6 billion worth of emergency cash subsidies have been disbursed to more than 13.98  family-beneficiaries of the second wave of aid under the Social Amelioration Program (SAP), the Department of Social Welfare and Development reported. The DSWD said as of October 21, 8 p.m., it has distributed over P83. 6 billion SAP 2 funds to around 13, 982, 425 low-income households.  The number of served beneficiaries is 98 percent of the 14.3 million low-income households targeted to receive the second wave of subsidies. “Batay sa datos kahapon, ika-21 ng Oktubre, umabot na sa higit P83.6 bilyon ang naipamahagi ng DSWD sa higit 13.98 milyon na pamilyang benepisyaryo ng SAP,” the DSWD said in a Facebook post.  (Based on the data yesterday, as of October 21, over P83.6 billion has been distributed by the DSWD to more than 13.98 billion family-beneficiaries of SAP.) The Department assured the public that the manual and digital payouts continue to serve the uncovered beneficiaries numbering to more than 317,000.  During the virtual “Laging Handa” briefing, DSWD Undersecretary Rene Glen Paje said they are exhausting all means to ensure that the second tranche distribution of the SAP will be completed within this month, as the agency is readying to implement programs under the Bayanihan to Recover as One Act or the Bayanihan 2. Among the programs and services that will be implemented by the DSWD under Republic Act  No. 11494 or Bayanihan 2 are the emergency subsidy to affected low-income households in areas under “granular lockdowns”;  Assistance to Individuals in Crisis Situation (AICS); distribution of food and non-food items; livelihood assistance grants (LAGs), and supplementary feeding program for day-care children. .....»»

Category: newsSource: NewsOct 22nd, 2020

Cooperation, not competition

SPEAKING OUT Ignacio R. Bunye The Ayala Group is widely recognized in the Philippines and in Asia as a pioneer in ESG (Environment, Social, and Governance) with its formal adoption of the Ayala Sustainability Framework. In a recent webcast conversation with ATR Asset Management’s Julian Tarrobago, Jr., Jaime Augusto Zobel de Ayala (JAZA), Chairman and CEO of Ayala, explained the genesis of this corporate philosophy. In a nutshell, this is about using the economic engine and for-profit discipline of enterprises to address social issues – not as a philanthropy but as an integral part of doing business. This is a new philosophy designed to foster an environment where there is inclusive growth. This is achieved by engaging disenfranchised sectors and going beyond just the financials. This is reflected in how Ayala purposively evolved over the years and how it has operated during the crisis. This explains how and why Ayala Land continues to make urban centers more livable and more friendly, why Ayala Land projects aim to become carbon-neutral a few years down the road, why AC Energy continues to improve its mix of energy sources, consistently increasing reliance on renewables, why Ayala has ventured into health and into education, and why BPI has dramatically upsized its microfinance. This explains why during the crisis, Ayala’s first concern was to ensure both the physical and financial well-being of its stakeholders. This includes Ayala’s employees and those of the various eco-systems (read that as 250,000 SMEs) which support Ayala. This meant P10 billion, to date, of foregone revenue, to help in their recovery and fostering sustainable growth beyond the crisis. Finally, JAZA explains why “this is a time for us to learn to cooperate rather than be at odds with each other. Our modern capitalist system is massively integrated in a way that it wasn’t in the past. And because we have an integrated system, we are tied to each other in ways that we either all succeed together, or not. If one component of that system is allowed to fail, then you start to break up what makes modern capitalism so strong. The supply chain, the integration, the way we work off each other, each person providing their own component of the system. If we don’t help each other, particularly in the public-private sector to reenergize and restart that great engine, then we will fail. Perhaps, this is a period in time where cooperation is being demanded more from all of us both in the private sector alone and in the private-public interaction, to see how we can all work together to address the many pain points that we will face as a nation if we are to get out of this pandemic.” Change your passwords often Even prior to the pandemic, incidents of unauthorized ATM withdrawals by third parties have been reported on the rise. It is perhaps opportune to issue this reminder. Essentially, it is about keeping our User IDs and passwords safe. One normally reads this reminder on our bank’s website. This is what the bank usually tells us. The bank will never ask you to provide your User IDs or Passwords through e-mail or SMS so don’t fall for unsolicited messages that your account has been temporarily disconnected and that you have to change your password. Never click on links from suspicious e-mails and SMS. Hackers can gain access to your account, plant malware, and steal your identity. Monitor your accounts regularly and immediately report any discrepancies. If I may just add, don’t ask anybody to withdraw money from the ATM for you. For added protection, you may want to use Code Red, an RFID and NFC Anti-Scanning Card. It is a smart card that provides protection from identity theft by manipulating the radio signals using E-field technology. Simply put it inside your wallet and it will make your personal data invisible to electronic thieves and hackers. (Thanks BPI EVP Mon Jocson for this last tip.) Note: You may wish to share the foregoing article via Facebook, Twitter and/or Linked-In......»»

Category: newsSource: NewsOct 18th, 2020

DSWD-7: Over 400K families in Cebu receive SAP 2nd tranche

CEBU CITY, Philippines — A total of around P2 billion worth of public funds were distributed to over 400,000 families in Cebu, who were qualified to receive the second tranche of the government’s emergency cash aid, officials here announced. The Department of Social Welfare and Development in Central Visayas (DSWD- 7) reported having successfully distributed […] The post DSWD-7: Over 400K families in Cebu receive SAP 2nd tranche appeared first on Cebu Daily News......»»

Category: newsSource:  inquirerRelated NewsOct 10th, 2020

CCDC submits 2021 ‘wish list’; seeks approval of P22.3B AIP

CEBU CITY, Philippines –The Cebu City Development Council (CCDC) is seeking a P22.3 billion allocation in 2021 for the implementation of programs and projects that will improve health, environment, social services, and traffic management in the city. A breakdown of these projects were included in the city’s Annual Investment Plan (AIP), said Councilor Raymond Alvin […] The post CCDC submits 2021 ‘wish list’; seeks approval of P22.3B AIP appeared first on Cebu Daily News......»»

Category: newsSource:  inquirerRelated NewsOct 9th, 2020

ADB urges SEA economies: Tap green financing for recovery

The Asian Development Bank is urging policy makers in Southeast Asia to tap into green financing to raise funds for projects that will help economies recover......»»

Category: financeSource:  philstarRelated NewsOct 8th, 2020

BSP eyes more investments in green bonds

The Bangko Sentral ng Philippines is looking at investing more in green bond funds as it ramps up sustainable finance framework by encouraging banks to issue more green, social and sustainability bonds......»»

Category: newsSource:  philstarRelated NewsAug 27th, 2020

House panel to probe PhilHealth anomalies Wednesday

The House Committee on Public Accounts is investigating the alleged irregularities and “systemic” corruption in the State-owned Philippine Health Insurance Corp. (PhilHealth) on Wednesday. (MANILA BULLETIN FILE PHOTO) Anakalusugan partylist Rep. MIchael “Mike” Defensor, chairman of the panel, said the investigation was initially scheduled on Monday but they decided to reschedule it to Wednesday to ensure that invitations have been sent out to resource persons. “Sa Wednesday tayo (We will conduct the hearing on Wednesday), kasi dapat nga bukas talaga itong hearing (the hearing was initially scheduled tomorrow) pero (but) nakiusap sila (they appealed) na Wednesday na isagawa (that it be conducted on Wednesday) dahil sa kailangan ng oras sa imbitasyon (because more time is needed to send out invitations),” Defensor said. He said among those who are expected to attend the hearing are PhilHealth president and chief executive officer Ricardo Morales and former PhilHealth anti-fraud legal officer Thorrsson Keith who claimed that top agency officials are involved in the corruption. In a statement, Defensor said they are expecting Keith to shed light more on his allegations that millions of overseas Filipino workers should not be burdened to pay for the “spillages” of the agency as stated in his resignation letter. “Mr. Keith should explain what these spillages are, what are the instances of corruption in the State health insurance firm, and who are the officials and personnel involved,” he said. Keith’s resignation letter was circulated on social media. In that letter, he stated that his salary has not been given on time since he started investigating PhilHealth officers allegedly involved in the corruption. “It should be noted that the PhilHealth has had its share of corruption issues in the past,” Defensor said He recalled that in June this year, Malacañang called out the PhilHealth for its supposed inaction to look into the missing P154-billion funds within the agency through “fraudulent schemes.” The House leader cited that in August 2019, the Commission on Audit (CoA) also called out PhilHealth for the surge in the number of cases and reimbursement claims of members, particularly those from Rizal and Metro Manila for pneumonia, urinary tract infection, acute gastroenteritis, sepsis, and other diseases. He attributed that tens of billion in “overpayments” to the prevailing all-case rates (ACR) payment mechanism. “The case-rate system, under which there is a fixed cost for the treatment of certain diseases and for procedures, is really a loophole that is resulting in billions of losses on the part of PhilHealth. It is not surprising that it maybe a source of corruption,” he said. According to him, under the ACR payment mechanism, PhilHealth pays the hospital the “case rate even if the cost incurred by a member is much, much less.” “For instance, the case package for mild pneumonia is about P44,000. A hospital could declare that it treated a PhilHealth member for pneumonia even if he had only colds and fever,” he said. He laments that in some instances, a simple eye procedure was claimed as a cataract operation. Defensor said the PhilHealth should bill the actual cost of treatment or procedure, and that the case rates be declared as cost limits. He asked the PhilHealth officials to look into numerous claims for payment or reimbursement for the same or similar diseases or procedures, and involving the same doctors, clinics, or hospitals. “This has happened with pneumonia, eye problems, and dialysis and kidney ailments. They should have learned their lesson. It cannot continue to happen, unless some officials and personnel are involved in corruption,” he said. Defensor had filed House Resolution No. 1069 seeking motu proprio investigation on the corruption issues hounding PhilHealth that led to the resignation of several personalities. “When there seems to be a pattern of alleged abuses where loopholes can be taken advantage of by the unscrupulous, a systemic change needs to be done to overhaul the present set up,” he said......»»

Category: sportsSource:  abscbnRelated NewsAug 2nd, 2020