Tala, Maya Bank Announce Loan Channeling Partnership Towards Financial Inclusion In PH

Tala, the first fintech company for the Global Majority, announced its team-up with Maya Bank, a digital bank leader in the Philippines! This partnership aims to close the financial gap for Filipinos by channeling PHP 2.75 billion through digital platforms for better credit access.

Strengthening Financial Health Key To Unlocking Economic Potential Of Global Majority

Discover how Tala's innovative solutions are transforming financial health for millions worldwide, fostering confidence and independence on the path to economic empowerment.

All Within 15 Minutes: Urban Planning Concept City To Rise In Pasay

Transforming transportation, boosting the economy, and shaping the future! The Pasay 360 Project is set to revolutionize city living and empower generations to come.

Renewable Energy Investments Dominate PHP1.9 Trillion Green Lane Projects

3897

Renewable Energy Investments Dominate PHP1.9 Trillion Green Lane Projects

3897

How do you feel about this story?

Like
Love
Haha
Wow
Sad
Angry

Department of Trade and Industry (DTI) Secretary Alfredo Pascual said Tuesday 51 out of 59 projects endorsed for green lane treatment are in the renewables sector.

During the awarding of Green Lane Certificate to Prime Infrastructure Inc. in Parañaque City, Pascual said the One-Stop Action Center for Strategic Investments (OSAC-SI) under the Board of Investments (BOI) has granted green lane endorsements to 59 projects worth PHP1.9 trillion as of April 1.

The 51 renewable energy (RE) projects with a green lane certification amounted to PHP1.57 trillion.

Other projects under green lane include four digital infrastructure investments worth PHP302.16 billion, two food security projects worth PHP29.61 billion, and two manufacturing projects worth PHP3.4 billion.

Through Executive Order (EO) 18 signed by President Ferdinand R. Marcos. Jr. in February 2023, OSAC-SI provides endorsement to strategic investments for green lane treatment in concerned national government agencies and local government units.

“President Marcos Jr. mentioned during the Bagong Pilipinas Kick-off Rally last January that services must be fast, projects must be completed on time, deadlines must be met as scheduled, and distress calls must be responded to promptly. He also emphasized that red tape must be replaced with a red carpet in any government office,” Pascual said.

The DTI chief added that EO 18 “exemplified the administration’s keen reform efforts to address investor pain points.”

The latest projects endorsed for green lane treatment are Prime Infra’s 1,400-megawatt Pakil Pumped Hydroelectric Power Project and the 600-MW Wawa Pumped Storage 1 Hydroelectric Power Project, with investment values of PHP296 billion and PHP143 billion, respectively. (PNA)