The DBP shall serve as a national development policy bank for the implementation of government policies.
The House of Representatives overwhelmingly approved on third and final reading during plenary session Tuesday, Jan. 28 a measure enacting a new charter for the Development Bank of the Philippines .The House of Representatives overwhelmingly approved on third and final reading during plenary session Tuesday, Jan. 28 a measure enacting a new charter for the Development Bank of the Philippines .
Only three House members voted against the bill, which aims to strengthen the powers and functions of the DBP as the country's premier development financial institution, mandated to provide development financing and financial services to strategic sectors for the achievement of sustained economic growth.
It authorizes the bank to allocate its unrestricted retained earnings for the increase in the paid-up capital stock of the national government.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
LandBank, DBP have solid financial footing, says RectoThe Department of Finance (DOF) said Land Bank of the Philippines and the Development Bank of the Philippines (DBP) have robust financial performance,
Read more »
Philippines and EU Reaffirm Shared Development Interests at Sub-Committee MeetingThe Philippines and the European Union held their fourth sub-committee meeting on development cooperation, reaffirming their commitment to working together on key areas such as peace, governance, green economy, and digital transformation.
Read more »
Philippines Approves LNG Hub Development Despite Environmental ConcernsDespite opposition from environmental groups, President Ferdinand Marcos signed a law to develop the Philippines into an LNG trading and transshipment hub. The law aims to ensure energy security as the Malampaya gas field depletes, potentially leading to higher energy prices.
Read more »
Philippines Seeks to Attract Digital Nomads with Proposed VisaThe Philippines is pushing to become a hub for digital nomads by supporting a proposed Digital Nomad Visa. The Department of Tourism believes the visa will attract remote workers and boost the economy.
Read more »
Philippines Seeks Regional Cooperation for Nuclear Energy DevelopmentThe Philippines Department of Energy is open to regional cooperation with ASEAN countries to advance its nuclear energy agenda. Energy Secretary Raphael Lotilla emphasized the importance of a collaborative approach, not only for emergency response but also for training human resources. Lotilla also highlighted the Philippines' intention to explore partnerships beyond the US, including with Japan, UAE, and Korea, for technical expertise and cooperation in the energy sector. The Philippines received positive feedback from the International Atomic Energy Agency (IAEA) on its nuclear power program progress, noting significant advancements in addressing recommendations and adopting a national position for a nuclear energy program.
Read more »
Philippines Sees Opportunities Amid Proposed US Tariffs on ChinaFinance Secretary Ralph G. Recto downplays concerns about proposed China-specific tariffs by US President Donald Trump, highlighting potential benefits for the Philippines, including attracting Western companies seeking alternative export markets.
Read more »