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.
First Gen Corporation on Thursday stressed that it was Prime Infrastructure Capital, Inc. (Prime Infra)—not its chairman and CEO Federico “Piki” Lopez—that insisted on including “Key Man” or Change of Management Control (CMC) provisions in their hydro power agreements.
The Philippines has launched a safeguard investigation into rice imports, intensifying scrutiny over rising inflows that policymakers say may be undermining the domestic farming sector.