The Bangko Sentral ng Pilipinas (BSP) and the Japan International Cooperation Agency (Jica) have jointly launched the Credit Risk Database Scoring Model to help lenders better assess the creditworthiness of small and medium enterprise borrowers, including those without credit history or adequate collateral. According to BSP Governor Felipe Medalla, this latest tool for banks was intended to bridge the funding gap for micro, small and medium enterprises (MSMEs) while enhancing the credit risk management of financial institutions using a data-dri ...
California-based company Astranis—which is set to offer satellite-based internet connectivity in the Philippines next year—is currently preparing the deployment of a satellite that will provide service to 2 million Filipinos, especially those in underserved communities. An Astranis spokesperson told the Inquirer they were finalizing a launch of several satellites, which will take place before the year ends. “The satellite for the Philippines will be launched alongside four other Astranis MicroGEO satellites on a dedicated rocket—and we ...
MANILA, Philippines — US private equity firm KKR & Co. will expand its investments in the Philippines by another $400 million, according to the US Department of Commerce, with the company pouring in the funding to more telecommunication tower operations in the country. This is one of the big-ticket investments announced by the office of US Commerce Secretary Gina Raimondo, who led a two-day trade mission to the Philippines which concluded on Tuesday. READ: $1-B investment deals seen in US trade mission ...
When small and medium-sized businesses think of scaling up or expanding their businesses, it is undeniable that the challenges they encounter are quite different from large corporations. This was the topic of my recent talk during the celebration of the Cebu Business Month last May, organized by the Cebu Chamber of Commerce. It was a good opportunity for me to share some of my insights into the current state of medium-sized businesses in the country and my recommendations on essential steps and strategies that may help them scale up. ...
DOTr Secretary Jaime Bautista told reporters last week they were eyeing to secure the funding for the P10.12-billion project this year. “We’re still working on it,” he said. Light...
MANILA, Philippines — Citicore Renewable Energy Corp. (CREC) led by tycoon Edgar Saavedra obtained funding of up to P20 billion from Rizal Commercial Banking Corp. (RCBC) to bankroll the construction of its solar power projects. It closed an initial P9 billion to finance multiple solar power plant projects with an initial capacity of 600 megawatts, which can then be increased to about 1 gigawatt, the company said in a statement on Monday. “The structure is believed to be the first-of-its-kind project financing in the Philippines, which cove ...
MANILA, Philippines—The Securities and Exchange Commission (SEC) ordered the operator of The Medical City to restore its board composition going back several years, paving the way for the return of directors, including former health secretary and longtime CEO Alfredo Bengzon. This followed a landmark decision last week by the regulator which said the 2018 board takeover led by Bengzon’s nephew, Jose Xavier B. Gonzales and foreign partners, was based on illegal transactions. The SEC on Aug. 20 voided the acquisition by Gonzales’ companies ...
MANILA -The Department of Agriculture (DA) has issued supplemental guidelines to accelerate the repopulation of hogs in Northern Mindanao. The agency issued a memorandum order to provide the amended rules on the implementation of a community-based swine population, repopulation and expansion through the Integrated National Swine Production Initiatives for Recovery and Expansion (Inspire) program. Implemented by the DA’s National Livestock Program, the Inspire scheme aims to fast-track calibrated repopulation and production expansion through f ...
The feasibility study for a P70-billion monorail project at the Bonifacio Global City may be up for Japanese funding, depending on the outcome of a presentation to the National Economic and Development Authority (Neda) and the Japan International Cooperation Agency (Jica) next month. Arnel Casanova, president of the Bases Conversion Development Authority (BCDA), said the target was to present the pre-feasibility study next month to Neda and Jica and a decision would be made if funding for the st...
GANDHINAGAR, India – Multilateral development banks (MDBs) must undergo big changes in the way they operate to eliminate poverty, triple sustainable lending levels by 2030 and create a new funding mechanism to further its agenda, a G20 panel said in a report on Tuesday. The independent panel, headed by economists Lawrence Summers and N.K. Singh, was commissioned by the Group of 20 nations to propose reforms for MDBs with a focus on increasing funding for sustainable developments goals and climate change, among others. ...