PHL sealed $6-B ODA loans, grants in ’24: DOF
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HE Philippine government signed over $6 billion worth of Official Development Assistance (ODA) loans and grants this year, according to the Department of Finance (DOF). In a statement on Monday, DOF said it signed 12 loan financing agreements amounting to $5.67 billion or P333.42 billion. These funds are intended to finance projects in infrastructure, transport, defense, digital technology, health, and agriculture. The DOF has also secured $73.73 million or P4.34 billion worth of grants from bilateral and development partners for
THE WORLD | A16
HO CHI MINH CITY OPENS FIRST METRO LINE AFTER YRS OF DELAY ROTARY CLUB OF MANILA JOURNALISM AWARDS
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13 projects in infrastructure, peace and development, climate adaptation and mitigation, water security, and ArtificialIntelligence (AI)-based systems in agriculture, among others. “The Department of Finance takes the responsibility over our people’s money very seriously. Because every peso that the Filipinos entrust to us is a symbol of the millions of dreams, sacrifices and hopes of our people,” Finance Secretary Ralph G. Recto said, partly in Filipino. “That is why we make sure that we enter into partnerships
with very trusted partners and that the terms of our agreements are very concessional and costeffective so we can deliver more projects that create lasting impact for generations,” he added. For the loans, the financing agreement includes the third tranche of financing for the Metro Manila Subway Project (Phase 1), which is the country’s first-ever underground railway system. Also signed were the loan agreements for the Dalton Pass East Alignment Alternative Road Project; the first tranche of the financing for the Bataan-Cavite Interlink Bridge Project; Samar
Pacific Coastal Road II Project; the Laguna Lakeshore Road Network Project; the New Dumaguete Airport Development Project; the Maritime Safety Capability Improvement Project Phase III; and Infrastructure for Safer and Resilient Schools Project. The DOF also signed the financing for the Philippines’ First and Second Dig ita l Transformation Program, Second Sustainable Recovery Program; the Build Universal Health Care (UHC) Program, Subprogram 2; the Value Chain Innovation for See “PHL,” A2
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DEBT SERVICE BURDEN UP 16.8% IN 9 MONTHS Reenacting ’24 budget not on President’s list of options By Samuel P. Medenilla @sam_medenilla
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ALACAÑANG said Monday President Ferdinand Marcos Jr. is not considering having a reenacted budget for next year and will push for the passage of the proposed P6.352-trillion 2025 General Appropriations Act (GAA) this month. In brief statement, Presidential Communications Office (PCO) Secretary Cesar B. Chavez said Marcos met with Executive Secretary Lucas P. Bersamin and the secretaries of the Department of Finance, Department of Budget and Management, National Economic and Development Authority and the
ALL ROADS LEAD HOME THIS CHRISTMAS Passengers from all walks of life flock to
transportation hubs across Metro Manila to travel to their provinces and spend the holiday season with their loved ones. At the Parañaque Integrated Terminal Exchange (PITx), crowds gather for their journey home, while at the Florida Bus Terminal on Lacson Street in Manila, long queues form as travelers eagerly await their turn. NONIE REYES AND ROY DOMINGO By Cai U. Ordinario
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@caiordinario
HE country’s debt service burden (DSB) increased 16.82 percent in the January to September 2024 period, according to the latest data released by the Bangko Sentral ng Pilipinas (BSP).
The data showed a $1.85-billion increase in the debt service burden to $12.85 billion in the nine-month period this year from the $11 billion posted in the same period last year. BSP said the principal of the total debt service burden reached $6.925 billion, a 16.82-percent increase from the $5.928 billion posted in the
same period last year. For interest, the data showed the same rate of increase was observed. In the nine-month period, interest reached $5.925 billion in 2024, higher than the $5.072 billion in 2023. In terms of ratios, DSB to export shipments ratio increased See “Debt,” A2
See “Reenacting,” A2
NGCP, ERC FACE HOUSE PROBE OVER DELAYS, BILLING ISSUES
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HE National Grid Corporation of the Philippines (NGCP) and the Energy Regulatory Commission (ERC) came under scrutiny as the House Committee on Legislative Franchises investigated franchise compliance, project delays and practices burdening consumers. Per the report of Energy Undersecretary Sharon Garin, out of 111 approved projects under the third regulatory period, 77 were delayed and 27 remain unfinished. For instance, the Hermosa-San Jose transmission line was rescheduled
eight times, which disrupted power supply and increased costs for consumers. ERC Chairperson Monalisa Dimalanta, meanwhile, admitted to a regulatory gap after failing to finalize the fourth regulatory reset on schedule. At the House hearing, Dimalanta confirmed that “there were no rules after the third regulatory period had lapsed.” Originally intended for 2016 to 2020, the period was extended to 2022. Dimalanta acknowledged that “paglampas See “NGCP,” A2
NOTICE OF FILING OF APPLICATION/S FOR ALIEN EMPLOYMENT PERMIT/S (AEP/S) Notice is hereby given that the following companies/Employers have filed with this Regional Office application/s for Alien Employment Permit/s: ESTABLISHMENT / ADDRESS No.
NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION
QUALIFICATION AND SALARY RANGE
1NNOVATION INTERNATIONAL TRAVEL CONSULTANCY INC. Unit 9a3 9/f Ety Building., 484 Quintin Paredes St., Barangay 289, Binondo, City Of Manila
1.
Basic Qualification: At least college level fluency in Mandarin.
HU, ZUBIAO Chinese Consultant Brief Job Description: Working with the clients to understand their needs.
Salary Range: Php 30,000 - Php 59,999
See “dole ncr” on A6-A8
PESO EXCHANGE RATES n US 58.8740 n JAPAN 0.3764 n UK 74.0223 n HK 7.5722 n CHINA 8.0711 n SINGAPORE 43.4591 n AUSTRALIA 36.8080 n EU 61.4291 n KOREA 0.0407 n SAUDI ARABIA 15.6776 Source: BSP (December 23, 2024)