Monetary Board okays $500-million ADB loan

MANILA, Philippines – The policy-making Monetary Board of the Bangko Sentral ng Pilipinas (BSP) gave its final approval to the national’s government’s $500-million loan from the Asian Development Bank, BSP Deputy Governor Diwa Guinigundo said.

The $500-million loan, to be used for the government’s budgetary support, is part of ADB’s $3-billion fund alloted for developing countries such as the Philippines.

“The fund is for assisting developing member countries facing problems in the wake of the global recession,” Guinigundo told reporters.

readmore

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>