The World Bank and the Philippine government are moving forward with a landmark agreement that could reshape the country’s agriculture sector. At a recent meeting, agriculture secretary Francisco P. Tiu Laurel Jr. and World Bank country director Zafer Mustafaoglu reviewed the progress of the Philippine Sustainable Agricultural Transformation (PSAT) loan program, with the goal of finalizing the USD1 billion loan agreement in July.
The International Finance Corp. (IFC), the private investment arm of the World Bank, has appointed Riccardo Puliti as its new Regional Vice President for Asia and the Pacific.
The government could forgo up to P43.6 billion in revenues if it suspends excise taxes on all fuel products for three months, a senior Finance official said, highlighting the fiscal trade-offs as authorities move to cushion consumers from elevated oil prices.
Metro Manila’s property market is turning cautious, with office leasing decisions slowing and condominium developers dialing back new launches as vacancies climb, according to Colliers Philippines.
The Department of Agriculture (DA) on Tuesday rolled out its P20 per kilo rice program in Makati City, serving about 750 beneficiaries during the launch attended by Mayor Nancy Binay and other local officials.