PHL, EU explore financing deal
THE Philippines and the European Union (EU) are exploring a financing arrangement combining EU grants and guarantees to reduce upfront investment risks and support new projects in the country, according to the Department of Finance. In a statement last Thursday, the DOF said the proposed financing would cover new investments in green transition, circular economy, environmental protection and development in Mindanao. The DOF, however, did not disclose the amount of funding being considered or identify specific projects that would receive support. The European Investment Bank, other European Development Finance Institutions and the EU private sector, as well as the possible cooperation with multilateral development banks, particularly the Asian Development Bank, ‘will be critical in supporting the investment agenda.’ Reine Juvierre S. Alberto
Metrobank gets TAB award
THE Metropolitan Bank and Trust Co. (Metrobank) announced it was recognized by the Singapore-domiciled TAB Global Pte. Ltd. as the ‘Philippines’s Strongest Bank’ for the sixth straight year. ‘Our strength comes from the trust our customers place in us and the dedication of our Metrobankers, who remain committed to delivering financial solutions that help our clients succeed in different market conditions. This recognition reflects how we continue to grow stronger together with our clients, communities, and partners through every challenge and opportunity,’ Metrobank President Fabian S. Dee was quoted in a statement as saying.
RCBC is best SSS partner again
THE Rizal Commercial Banking Corp. (RCBC) announced recently that it was recognized by the Social Security System (SSS) as ‘Best Digital Disbursement Partner’ for the fourth consecutive year. Through RCBC and its digital banking platform ‘DiskarTech,’ SSS members receive benefit payments and access digital financial services alongside their SSS transactions, read the lender’s statement. After the launch of the partnership last year, the partnership between the SSS and RCBC ‘expanded further this year with the rollout of MySSS Card-enabled contactless payments at LRT-2, allowing cardholders to use the card for train fares. The entities also introduced ‘SSS LoanLite,’ allowing SSS members to apply digitally for short-term loans.