DOF leads push to insure public assets T
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HE Department of Finance (DOF) is leading a new global initiative aimed at protecting public assets of Southeast Asian nations from the impacts of natural disasters. In a statement on Wednesday, the DOF said it is spearheading the Southeast Asia Disaster Risk Insurance Facility—Sovereign Asset and Fiscal Empowerment (SEADRIF-SAFE). The initiative was agreed upon by member-countries of SEADRIF during its eighth technical meeting in Kyoto, Japan, earlier this month. Championed by the Philippines through the DOF, the SEADRIF-
SAFE will integrate disaster insurance directly into development projects financed by bilateral and multilateral partners. “This ensures that critical public assets such as hospitals, schools, roads, and public buildings are financially protected, allowing governments to continue serving citizens even after disasters strike,” the DOF said. When a disaster strikes, governments can also start rebuilding immediately since funds are already available, the DOF added. By pooling risks at the regional level, member-countries can reduce insurance costs, expand coverage and accelerate recovery ef-
forts to make their communities safer and more resilient. “Disasters are not just national problems—they are regional challenges that demand global solutions. Through SEADRIF-SAFE, which the Philippines champions, we are taking a proactive and united step to protect what truly matters: our people and the public assets they rely on,” Finance Secretary Ralph G. Recto said. Moreover, the initiative supports the DOF’s ongoing disaster risk financing efforts in the Philippines under the National Indemnity Insurance Program (NIIP). This ensures that government assets, particularly school build-
ings, are protected against disasters through a comprehensive insurance coverage provided by the Government Service Insurance System. It also complements the country’s upcoming ASEAN+3 Finance Process Co-Chairmanship with Japan in 2026, which will prioritize regional disaster and climate resilience. Further, the DOF is leading the establishment of enhanced climate-disaster risk finance and insurance mechanisms for the Philippines in partnership with the Global Shield Secretariat and Institute for Climate and Sustainable Cities (ICSC). Reine Juvierre S. Alberto
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Thursday, October 30, 2025 Vol. 21 No. 22
P25.00 nationwide | 4 sections 28 pages | 7 DAYS A WEEK
By Reine Juvierre S. Alberto @reine_alberto
HE Philippine peso rebounded on Wednesday, back at P58 levels after slipping past P59, as profittaking persisted and seasonal dollar inflows picked up ahead of Undas and the start of holiday-related spending.
The local currency closed at P58.69 to the United States dollar after opening at P59.15, and traded for as high as P59.25 and as low as P58.65, based on data
from the Bankers Association of the Philippines. Some economists attributed the strength of the peso to investors’ See “P58 level,” A2
PINOY GEN ALPHA COULD BE GROWTH BOOSTER, SAYS BMI By Reine Juvierre S. Alberto
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HE Philippines’s growing Generation Alpha population—the highest proportion in Asia—could be a domestic edge boosting consumption growth, according to BMI, a Fitch Solutions Company.
In a commentary on Wednesday, BMI said the Philippines will have the highest proportion of Gen Alpha among major Asian markets, consisting of 27 percent of the total population in 2030. Gen Alpha are those born between 2010 to 2024, and associated with tech-savviness, having See “Booster,” A2
KNEADING CHANGE Xiao long bao, a famous traditional Chinese dumpling, is made from dough shaped into small circles and filled with seasoned meat and savory soup. One of its key ingredients is
flour—a product now at the center of trade discussions in the Philippines. The Philippine-Turkish Business Council has urged the government to lift its decade-long anti-dumping duties on Turkish wheat flour, saying the move would boost competition and lower bread prices for Filipino consumers, according to a BusinessMirror report. NONIE REYES
DPWH creates expert panel on flood works By Lorenz S. Marasigan
MEGAWORLD SPEARHEADS EARTHQUAKE PREPAREDNESS SUMMIT WITH GOV’T AGENCIES Property giant Megaworld led the Earthquake PREP (People and Real
Estate Preparedness) Summit, a multi-sectoral conference aimed at strengthening coordination and information- and resource-sharing among government agencies, local communities, and Megaworld. Representatives and leaders from the City Government of Taguig, Philippine National Police (PNP), Bureau of Fire Protection (BFP), Department of National Defense—Office of Civil Defense (DND–OCD), Philippine Army (PA), and the Metropolitan Manila Development Authority (MMDA), along with Megaworld executives, shared valuable insights, tips, recommendations, and data essential for preparing the public during earthquake emergencies. Signing the Manifesto of Cooperation, a symbolic commitment among stakeholders for earthquake preparedness, were (from left): Jesus Piedad Fernandez, Chief, BFP; Dr. Luis Sy Jr., Head, Taguig City Disaster Risk Reduction and Management Office (CDRRMO); Lourdes T. Gutierrez-Alfonso, President and CEO, Megaworld; Atty. Crisanto Saruca Jr., Head, Metropolitan Public Safety Office (MPSO), MMDA; Kevin L. Tan, President and CEO, Alliance Global Group Inc. (AGI), parent company of Megaworld; Emerito Junie B. Castillo III, Chief of Domestic Cooperation and Spokesperson, DND–OCD; Jason Faller, Head, Megaworld Earthquake Preparedness Council; Lt. Col. Lester Sinlao, Commanding Officer, 525th Engineer Combat Battalion, Philippine Army; and PCol. Esmeraldo Osia Jr., Chief of Community Affairs Division, PNP.
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HE Department of Public Works and Highways (DPWH) has established a Technical Working Group (TWG) of independent experts to scrutinize all flood control projects planned for the 2027 national budget. Public Works Secretary Vince Dizon told reporters on Wednesday that this initiative will help the agency address the widespread corruption in flood control infrastructure planning. “When we studied this, one of the things we discovered is that many of our flood control problems stem from a lack of planning,” Dizon said. “Many flood
control projects, when you ask where the plan is, don’t even have one. Basically, these flood control projects were not planned or thought through. To be quite frank, these flood control projects were made just to profit.” He noted that the working group will be tasked to review all flood control projects lined up for 2027, adding that “no flood control project will be included in the 2027 budget unless it receives approval from this group of experts.” As of Wednesday, the panel of flood control experts include the following: Alfredo Mahar Francisco Lagmay, Director of the University of the Philippines (UP) Nationwide Operational Assessment
“No flood control project will be included in the 2027 budget unless it receives approval from this group of experts.” – DPWH Sec. Vince Dizon
of Hazards (NOAH) Center; Guillermo Tabios III of the UP Institute
of Civil Engineering; and Department of Environment and Natural Resources Undersecretary Carlo Primo David, who heads the Water Resources Management Office. Dizon said the TWG has already begun meeting over the past month and will continue working as the government prepares the 2027 National Expenditure Program (NEP), which begins as early as February. The group faces a tight deadline, with less than four months to develop initial plans, he noted. “I’m asking this group to vet the plans. And if they say the plans are good and the plans will have a positive effect on flood mitigation in various areas, then we will put See “DPWH,” A2
PESO EXCHANGE RATES n US 59.1040 n JAPAN 0.3886 n UK 78.4960 n HK 7.6075 n CHINA 8.3258 n SINGAPORE 45.6931 n AUSTRALIA 38.8963 n EU 68.8739 n KOREA 0.0414 n SAUDI ARABIA 15.7611 Source: BSP (October 29, 2025)