The loan is said to be a part of ADB\u2019s inclusive finance development program \u201cto expand financial inclusion in the country by improving the country\u2019s financial infrastructure, including widening the digital financing ecosystem.\u201d
MANILA, Philippines— The Asian Development Bank on Thursday approved a $300 million dollar loan to the Philippines to boost financial structures.
ADB said that the program also supports boosting the capabilities of financial service providers, such as rural banks and nonbank financial institutions. According to the ADB, this growth was accelerated by the COVID-19 pandemic lockdowns, nearly doubling the accounts held by the lower 40% income group from 18% in 2017 to 34% in 2021.
The economic growth forecast for the Philippines for this year has been revised downward due to high inflation and interest... SM Investments Corp., the listed conglomerate of the Sy Group, is targeting to boost the earnings contributions of its investments portfolio to at least 15 percent from 10 percent.
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