Balita.org: Your Premier Source for Comprehensive Philippines News and Insights! We bring you the latest news, stories, and updates on a wide range of topics, including politics, culture, economy, and more. Stay tuned to know everything you wish about your favorite stars 24/7.
Republic Act (RA) No. 11964, otherwise known as the Automatic Income Classification of Local Government Units Act, which was signed into law by President Ferdinand R. Marcos, Jr. on October 26, 2023 will help the Department of Finance (DOF) boost LGU revenues, ensuring fiscal sustainability of local governments.
Finance Secretary Benjamin E. Diokno met with Belgian Investment Company for Developing Countries (BIO) CEO Luuk Zonneveld to discuss opportunities to finance projects in the Philippines that drive sustainable development, particularly gender equality, climate action, and decent work.
The Philippine delegation, led by Finance Secretary Benjamin E. Diokno, discussed co-investment opportunities in Philippine public-private partnerships, particularly in infrastructure and renewable energy, with the Federal Holding and Investment Company (La Société Fédérale de Participations et d’Investissement or SFPIM) — Belgium’s sovereign wealth fund.
MANILA, Philippines — President Ferdinand “Bongbong” Marcos Jr. has signed into law a bill creating an automatic income classification system for local government units (LGU) — a measure creating a more updated assessment of LGUs' financial capacities 14 years after their last income classification.
Finance Secretary Benjamin E. Diokno showcased to world leaders the Philippines’ digital connectivity agenda during the European Commission-led Global Gateway Forum on October 26, 2023 in Brussels, Belgium.
BRUSSELS, BELGIUM – Upon the directive of President Ferdinand R. Marcos, Jr., Finance Secretary Benjamin E. Diokno represented the Philippines at the very first Global Gateway Forum hosted by European Commission President Ursula von der Leyen from October 25 to 26, 2023 in Brussels, Belgium.
Nearly two years ago, in December 2021, the European Union launched the “Global Gateway” initiative, the European strategy to boost smart, clean and secure connections in digital, energy and transport sectors and to strengthen health, education and research systems across the world. The Global Gateway is a partnership of equals. To formalize this partnership, a Global Gateway Forum is organized today in the EU capital Brussels, Belgium. It brings together our key global partners – the Philippines will be represented by the Secretary of Finance, Benjamin E. Diokno – to examine progress and to consider further opportunities and challenges in the strategy’s implementation.
LUXEMBOURG – The European Investment Bank (EIB) has expressed keen interest in partnering with the Philippines to cofinance infrastructure and other sustainable projects during Finance Secretary Benjamin E. Diokno’s visit to their headquarters in Luxembourg on October 24, 2023.