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President Ferdinand R. Marcos, Jr. has created an interagency technical working group to lead the Philippines in its bid to host the Loss and Damage Fund (LDF) Board, allowing the country to access more climate financing and open wider opportunities for cooperation to address the impacts of climate change.
TO help workers make sound financial decisions, Senator Jinggoy Ejercito Estrada has filed a bill seeking to require employers nationwide to provide a free financial literacy program for all its employees.
The Philippine Fisheries Development Authority (PFDA) will require a budget of P30.1 billion to finance a four-year upgrade of over a dozen regional and subregional seaports into deep-water ports as part of the Department of Agriculture’s broader vision of transforming these facilities into agri-logistics hubs across the archipelago.
The Inter-Agency Task Force on Sustainable Finance (ITSF) has doubled its efforts to mobilize various sources of public and private financing with the issuance of the Sustainable Finance Taxonomy Guidelines (SFTG) and the enactment of the Public-Private Partnership (PPP) Code to catalyze green investments and drive sustainable growth.
Finance Secretary Ralph G. Recto has positioned the Philippines at the forefront of crisis and disaster response by being the first country to sign the Rapid Response Option (RRO) agreement with the World Bank Group (WBG).
Finance Secretary Ralph G. Recto has secured commitments from Asian Development Bank (ADB) President Masatsugu Asakawa to support key priority development programs for the Philippines, focusing on boosting digitalization, improving human capital and infrastructure, and enhancing disaster preparedness.
Finance Secretary Ralph G. Recto has received full support from World Bank Group (WBG) President Ajay Banga on his key priority to fully digitalize the country’s tax system, with the Bank set to assemble a dedicated team to conduct workshop and assist the Department of Finance (DOF) in enhancing its digital infrastructure to improve tax payment and collection efficiency.
Finance Secretary Ralph G. Recto has successfully pitched the Philippines as an attractive investment hub, gathering strong interest from American investors during the Philippine Dialogue held on April 17, 2024 at The Ritz-Carlton in Washington, D.C.