DOCSLIB.ORG

The World Bank Ibro Ida I Woildbankgroup Official Agata E

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
The World Bank Ibro Ida I Woildbankgroup Official Agata E THE WORLD BANK IBRO IDA I WOILDBANKGROUP OFFICIAL AGATA E. PAWLOWSKA Acting Country Director Brunei, Malaysia, Philippines and Thailand DO CUM ENTS Public Disclosure Authorized July 10, 2018 Honorable Carlos G. Dominguez Secretary Department of Finance DOF Bldg., BSP Complex Roxas Blvd., Manila Dear Secretary Dominguez: Philippines: TFOA 1l62 Capacity Development Supportfor the Commission on Audit Amendment to the GrantAgreement Public Disclosure Authorized We refer to the grant agreement, as amended ("Agreement") dated October 26, 2015 between the Republic of the Philippines ("Recipient") and the International Bank Reconstruction and Development for ("World Bank"), acting as administrator of grant under the Supreme funds provided Audit Institution Capacity Development Fund ("Trust Development Fund") for the Capacity Support for the Commission on Audit ("Project"). The World Bank proposes to amend the Agreement to provide additional financial assistance in support of the Project, by extending to the Recipient an additional grant from the Trust Fund in an amount of twenty-five thousand United States Dollars (US$25,000). Accordingly, the Agreement is hereby amended as set out below: I. The Grant amount provided under paragraph I of the Agreement shall be Public Disclosure Authorized amended to read as three hundred three thousand United States Dollars (US$303,000) ("Grant"). 2. The withdrawal table in Article 3.01 of the Annex to the Agreement shall be amended as follows: Category Amount of the Grant Percentage of Allocated Expenditures to be (expressed in USD) Financed (inclusive of Taxes) (1) Goods, consultants' services 303,000 100. including audit, non-consulting services, Training and Workshops, and Incremental Public Disclosure Authorized Operating Costs TOTAL AMOUNT 303,000 26F One Global Place, 5th Avenue corner 25th Street, Bonifacio Global City, Taguig City 1634, Philippines Telephone: (632) 4652500 | Facsimile: (632) 4652505 Secretary Carlos G. Dominguez -2- July 10, 2018 Unless the context otherwise requires and except where otherwise defined in this letter, all capitalized terms contained herein shall have the meanings given to them in the Agreement. Except as specifically amended herein, all other terms of the Agreement shall remain unchanged and in full force and effect. Please confirm your agreement to the amendment set out above by having an authorized representative of the Recipient counter-sign and date the form of confirmation on the enclosed duplicate original of this letter and returning it to us. Upon receipt by the World Bank of the copy of this letter countersigned on behalf of Recipient, this amendment will become effective as of the date of the countersignature. Sincerely, INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT Agata E. Pawlowska Acting Country Directol Brunei, Malaysia, Philippines and Thailand AGREED: REPUBLIC OF THE PHILIPPINES By: Name: Carlos G. Dominguez Title: Secretary of Finance Date: 0 C 3 20918 Secretary Carlos G. Dominguez -3- July 10, 2018 cc: Hon. Ernesto Pernia, Secretary for Socioeconomic Planning, and National Economic and Development Authority Hon. Benjamin Diokno, Secretary, Department of Budget and Management Hon. Michael Aguinaldo, Chairperson, Commission on Audit Mr. Rolando Tungpalan, Undersecretary, National Economic and Development Authority Ms. Laura Pascua, Undersecretary, Department of Budget and Management Ms. Maria Edita Tan, Assistant Secretary, Department of Finance Mr. Jonathan Uy, Assistant Secretary, National Economic and Development Ms. Authority Lourdes Castillo, Assistant Commissioner, Commission on Audit Ms. Luz Tolentino, Assistant Commissioner, Commission on Audit Ms. Charissa Hipolito, Director, Department of Finance Ms. Violeta Corpus, Director, National Economic and Development Authority Ms. Josephine Manalo, Director, Commission on Audit Ms. Arlene Pira, Director, Commission on Audit Ms. Cora Lea dela Cruz, Director, Commission on Audit Ms. Donalyn Minimo, OIC-Multilateral Assistance Division, Department of Finance Ms. Monette Jimenez, Project Management Office, Commission on Audit Mr. Otaviano Canuto, Executive Director for the Philippines, World Bank Group Mr. Rommel Herrera, Senior Advisor to the Executive Director for the Philippines, World Bank Group.
Load more

Recommended publications
  • Curriculum Vitae 1
    BENJAMIN E. DIOKNO Specialization: Professor Diokno provides policy advice and conducts research in the following areas: public economics (with focus on structure and scope of government, tax policies and tax reform; government expenditure analysis; national budget, deficit and debt; and decentralization and intergovernmental fiscal relations), public expenditure management, resource economics (with focus on public policy on water and oil), and economic development (with focus on ASEAN transitional economies). I. ADDRESS AND DESIGNATION Home Address: 3 Purok Aguinaldo, University of the Philippines Campus Diliman, Quezon City, Philippines 1001 Telefax (632) 924-9177 Mobile +63 917 898 6090 Business Address: School of Economics, University of the Philippines Diliman, Quezon City, Philippines 1001 Tel. (632) 927-9686 to 92 Local 246 or 207 [email protected], [email protected] Present Position: Philippine National Bank Professor of Economics School of Economics, University of the Philippines (Diliman) II. PERSONAL BACKGROUND Date of Birth: March 31, 1948 Place of Birth: Taal, Batangas, Philippines Nationality: Filipino III. EDUCATIONAL BACKGROUND Highest Degree School Attended and Address of School Year Earned Graduated Ph.D. (Economics) Maxwell School of Citizenship and Public Affairs, 1981 Syracuse University, Syracuse, New York, U.S.A. M.A. Political Johns Hopkins University, Baltimore, Maryland, U.S.A. 1976 Economy M.A. Economics U. of the Philippines, Diliman, Quezon City, Philippines 1974 Certificate in University of the Philippines-University of Wisconsin 1972 Development Program in Development Program in Development Economics (With Economics, School of Economics, U. of the Philippines, Very High Diliman Distinction) Master of Public U. of the Philippines, Diliman, Quezon City, Philippines 1970 Administration B.A.
    [Show full text]
  • When Big Business and Farmers' Interest Collide
    When big business and farmers’ interest collide: A discussion of the drivers and effects of farmland conversion in the Province of Bulacan, Philippines Prepared by Ma. Cristina Arceo-Dumlao with Elvira Baladad Nathaniel Don Marquez Denise Hyacinth Joy Musni Marianne Jane Naungayan1 For the Asian NGO Coalition for Agrarian Reform and Rural Development (ANGOC) April 2021 1 With assistance from Mark Joseph Jose, Petronilo Bernardo, Marciano Mananghaya, Faustino Mananghaya, Mario Pacheco, Romeo Bautista, and Cecilia Maniego ACKNOWLEDGMENT Special thanks to Ka Elvie and Mark Joseph for assistance in the focus group discussions with farmers in Bulacan, including the Samahan ng mga Nagkaka-isang Magsasaka ng Sta Barbara, on 5 August 2020. Appreciation goes to the participants of the focus group discussion last 8 March 2021 for their inputs in finalizing the paper. Thanks to Fair Finance Philippines through the Initiatives for Dialogue & Empowerment through Alternative Legal Services, Inc. (IDEALS, Inc.) for the financial support for the conduct of this study. DISCLAIMER The views cited in this study do not necessarily reflect those of Fair Finance Philippines and IDEALS, Inc. CITATION Arceo-Dumlao, M.C., Baladad, E., Marquez, N.D., Musni, D.H.J., Naungayan, M.J. (2021). When big business and farmers’ interest collide: A discussion of the drivers and effects of farmland conversion in the Province of Bulacan, Philippines. Asian NGO Coalition for Agrarian Reform and Rural Development (ANGOC) and Fair Finance Philippines (FFP). When big business and farmers’ interests collide Contents List of Acronyms Used 5 Introduction 6 Shrinking agricultural lands in Central Luzon and Bulacan 10 Drivers of land conversion in Bulacan 13 Two Case Stories of Land Conversion in Bulacan, Philippines 14 CASE 1: The case of Sta.
    [Show full text]
  • Notes, References
    This PDF is a selection from an out-of-print volume from the National Bureau of Economic Research Volume Title: Developing Country Debt and Economic Performance, Volume 3: Country Studies - Indonesia, Korea, Philippines, Turkey Volume Author/Editor: Jeffrey D. Sachs and Susan M. Collins, editors Volume Publisher: University of Chicago Press Volume ISBN: 0-226-30455-8 Volume URL: http://www.nber.org/books/sach89-2 Conference Date: September 21-23, 1987 Publication Date: 1989 Chapter Title: Notes, References Chapter Author: Robert S. Dohner, Ponciano Intal, Jr. Chapter URL: http://www.nber.org/chapters/c9055 Chapter pages in book: (p. 593 - 614) 593 Philippines/Notes In contrast, much of Philippine policy, and certainly much of Philippine nationalism, has been defensive in character, designed to insulate and protect the economy from the outside world and the dangers perceived there. What the Philippines needs to develop is a more aggressive and self-confident nationalism, one that manipulates and takes advantage of the opportunities that the outside world offers-an “inward culture and an outward economy” rather than the reverse (Intal 1987). In fact, the situation in which the Philippines finds itself today is not so different from the situation characterizing many of the industrializing East Asian countries before their rapid growth took place, although none had the foreign indebtedness that the Philippines now shoulders. Japan, Hong Kong, and Singapore each had to deal with an unfavorable economic event that drastically limited their options and forced them to focus on export growth. For Taiwan and Korea it was the imminent reduction in U.S.
    [Show full text]
  • Change in Schedule of Pre-SONA Forum 2020
    Republic of the Philippines National Economic and Development Authority MEMORANDUM VERY URGENT FOR : Executive Secretary Salvador Medialdea OES Secretary Carlos Dominguez III DOF Acting Secretary Karl Chua NEDA Secretary Mark Villar DPWH Secretary Arthur Tugade DOTr Secretary Gregorio Honasan II DICT Secretary William Dar DA Secretary Ramon Lopez DTI Secretary Wendel Avisado DBM Secretary Fortunato de la Peña DOST Secretary Bernadette Romulo-Puyat DOT Secretary Alfonso Cusi DOE Secretary Eduardo Año DILG Secretary Karlo Nograles OCS Secretary Isidro Lapeña TESDA Undersecretary Ferdinand Cui, Jr. PMS Governor Benjamin Diokno BSP SUBJECT : CHANGE IN TIME SCHEDULE OF THE “ECONOMIC DEVELOPMENT CLUSTER (EDC) AND INFRASTRUCTURE CLUSTER (IC) PRE-SONA FORUM 2020” ON 08 JULY 2020 FROM : EDC Secretariat DATE : 06 July 2020 1. Please be advised that the time of the 2020 Pre-SONA Economic Development Cluster (EDC) and Infrastructure Cluster (IC) Forum: Regaining Momentum, Accelerating Recovery in a Post COVID-19 World on 08 July 2020 has now been changed to 11:00 AM from 9:00 AM. 2. In this regard, the PCOO, through the EDC Secretariat, requests all EDC member agencies to post in their respective Facebook pages the Pre-SONA Schedule Update Image together with its proposed caption (kindly see attached Pre-SONA Schedule Update Image and Proposed Caption on Schedule Update). 3. Note that this is based on the latest instruction of the PCOO. 4. For questions and clarifications, your designated staff may wish to contact Mr. Antonio Jose G. Leuterio and Ms. Rodelyn L. Rodillas at e-mail addresses [email protected] and [email protected], respectively.
    [Show full text]
  • Landbank Digital Transformation Gains More
    WHAT’S INSIDE 09 HARVEST MAGAZINE 03-04 THE SIKAT SAKA PROGRAM FARMERS FORUMS TO A BRIGHTER FUTURE HELPING EMPOWER EDITORIAL SMALL FARMERS THROUGH STAFF FOR FARMING INCLUSIVE LENDING Harvest Magazine is a quarterly publication PROGRAMS AND produced by LANDBANK’s Corporate Affairs TECHNICAL ASSISTANCE Department, with address at the 32nd Floor, LANDBANK Plaza, 1598 M.H. Del Pilar cor. Dr. Quintos Sts., Malate, Manila 1004. Harvest Editors reserve the right to edit and finalize all stories prior to publication. For comments or suggestions/contributions, please contact us at 5512200 loc. 2288 10PHILIPPINE PRESIDENT or e-mail [email protected] or [email protected]. FEATURE STORY LEADS DISTRIBUTION Editor-in-Chief OF LAND TITLE CATHERINE ROWENA B. VILLANUEVA CERTIFICATES TO ARBs Associate Editor MELISSA B. CALIMAG IN MINDANAO WITH LANDBANK AND DAR Managing Editor ELEANOR V. SATUITO 05- 08 Writers ARNOLD O. ALDABA SUGAR HIGH JENALYN R. ORDINARIO JESSICA M. EVANGELISTA PARTNERSHIPSAT WORK MARIE PHANUEL B. MANANSALA RIZZALYN C. ROSALES LANDBANK DIGITAL Photographers TRANSFORMATION EDSEL C. SABIO FRANCISCO C. FLORESCA JR. GAINS MORE JOSELITO G. RAMOS MA. ANGELINE S. DELA CRUZ INTEROPERABILITY MA. LUISA P. MAGSAKAY 11 WITH PESONet Layout Artist CHRIS DANIEL L. FRANCISCO PayGate Contributors LANDBANK CORPORATE COMMUNICATORS LANDBANK LINK.BIZPORTAL HELPS LTO REACH 12 P1B ONLINE PAYMENT MARK BRANCH BANKING NEWS & UPDATES LANDBANK BRINGS TOTAL 13 BRANCHES TO 403 ABOUT THE LANDBANK IS “OUTSTANDING CSF LENDING BANK” COVER AT BSP STAKEHOLDERS EVENT The Government’s thrust to improve the state of agriculture, particularly in the countryside, has given the Pasig Agrarian Reform 14 LANDBANK BAGS 7TH Beneficiaries and Upland Farmers (PARBUF) MPC a seemingly simple yet sweet KARLSRUHE OUTSTANDING disposition to show fellow farmers and agri SUSTAINABLE FINANCE groups that there is a good future to be had in sugarcane farming, with the right amount of PROJECT AWARD hard work and reliable support.
    [Show full text]
  • DEPARTMENT of FINANCE Roxas Boulevard Corner Pablo Ocampo, Sr
    Republic of the Philippines DEPARTMENT OF FINANCE Roxas Boulevard Corner Pablo Ocampo, Sr. Street Manila 1004 REGAINING MOMENTUM, ACCELERATING RECOVERY IN A POST-COVID-19 WORLD Carlos G. Dominguez Secretary of Finance Pre-SONA Briefing July 8, 2020 Executive Secretary Salvador Medialdea; Infrastructure Cluster Chairman and Secretary of Public Works and Highways Mark Villar; Bangko Sentral ng Pilipinas Governor Benjamin Diokno; Cabinet Secretary Karlo Nograles; members of the Economic Development and Infrastructure Clusters; fellow workers in government; members of the diplomatic corps; business and financial communities; academe, civil society, youth organizations, development partners, friends in media: Good morning. We live in difficult and uncertain times. In a country whose median age is below twenty-five, the COVID-19 health emergency is perhaps the toughest economic crisis most of our people will live through. This pandemic is a “black swan” event that no one fully anticipated and was truly prepared to deal with. But we did not fold and run in the face of an unprecedented crisis. We quickly took stock of the situation and responded with everything we had. President Duterte’s early and decisive measures to combat the contagion saved thousands of lives. According to the Epidemiological Models by the FASSSTER Project in April and the University of the Philippines COVID-19 Pandemic Response Team as of June 27, government interventions such as the lockdown have prevented as much as 1.3 to 3.5 million infections. Imposing the enhanced community quarantine not only slowed the virus’ spread, when it could have grown exponentially faster. The lockdown gave us time to expand our testing capacity by multiples.
    [Show full text]
  • President Rodrigo Duterte's Economic Team
    Received by NSD/FARA Registration Unit 07/31/2020 6:07:26 PM Media Releases (February to June 2020) 1. March 16 Media Release: Philippine DoF pledges over USD525 million to support health authorities and provide economic relief during COVID-19 March 16, 2020 PRESS RELEASE Gov’t economic team rolls out P27.1 B package vs COVID-19 pandemic President Rodrigo Duterte’s economic team has announced a P27.i-billion package of priority actions to help frontliners fight the 2019 coronavirus disease (COVID-19) pandemic and provide economic relief to people and sectors affected by the virus-induced slowdown in economic activity. The package consists of government initiatives to better equip our health authorities in fighting COVID-19 and also for the relief and recovery efforts for infected people and the various sectors now reeling from the adverse impact of the lethal pathogen. Finance Secretary Carlos Dominguez III, who chairs the Duterte Cabinet's Economic Development Cluster (EDC), said on Monday the measures in the package “are designed to do two things: First is to ensure that funding is available for the efforts of the Department of Health (DOH) to contain the spread of COVID-19. Second is to provide economic relief to those whose businesses and livelihoods have been affected by the spread of this disease.” “As directed by President Duterte, the government will provide targeted and direct programs to guarantee that benefits will go to our workers and other affected sectors. We have enough but limited resources, so our job is to make sure that we have sufficient funds for programs mitigating the adverse effects of COVID-19 on our economy,” he added.
    [Show full text]
  • Official Documents- Amendment to the Grant
    OFFICIAL DOCUMENTS The World Bank 1818 H Street N.W. (202) 477-1234 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT Washington, D.C. 20433 Cable Address: INTBAFRAD INTERNATIONAL DEVELOPMENT ASSOCIATION U.S.A. Cable Address: INDEVAS May 26, 2017 Public Disclosure Authorized Mr. Francisco J. Lara Jr. Country Manager International Alert (Philippines) Room 106, PSS Center, Commonwealth Avenue, Diliman, Quezon City, Philippines Re: Korean Trust Fundfor Economic and Peace-building Transitions Grant TF No. 0A1161 Bangsamoro Conflict Monitoring System Project Mr. Lara: Public Disclosure Authorized Dear We refer to the Grant Agreement dated April 20, 2016 between the International Bank of Reconstruction and Development / International Development Association ("World Bank"), acting as administrator of grant funds provided by various donors under the Korean TF for Economic and Peace-building Transitions, and International Alert, Philippines ("Recipient"), and your letter dated April 25, 2017 requesting amendments to the Grant Agreement for the Bangsamoro Conflict Monitoring System Project ("Project"). We are pleased to inform you that the World Bank has concurred with your request, and hereby proposes to amend the Grant Agreement as follows: 1. Article I, Section 1.02 (iii) of the Annex to the Grant Agreement is amended to read as Public Disclosure Authorized follows: (Iv "(iii) Incremental Operating Costs" means the reasonable incremental operating costs under the Project incurred by the Recipient for purposes of Project management and implementation, on account of office rental and management fees, office supplies and consumables, utilities, bank charges, communications, mass media and printing services, vehicle rental, operation, maintenance, and insurance, building and equipment maintenance, domestic travel, lodging and subsistence allowances, and salaries of contractual and temporary staff, but excluding salaries and any salary supplements of officials and staff of the Republic of the Philippines' civil service.
    [Show full text]
  • IN the NEWS Strategic Communication and Initiatives Service
    DATE: ____JULY _27________, 2020 DAY: _____MONDAY________ DENR IN THE NEWS Strategic Communication and Initiatives Service STRATEGIC BANNER COMMUNICATION UPPER PAGE 1 EDITORIAL CARTOON STORY STORY INITIATIVES PAGE LOWER SERVICE July 27, 2020 PAGE 1/ DATE TITLE : Mining firms mobilize P402M for Covid-19 aid ByEireene Jairee Gomez July 27, 2020 The Philippine mining industry has raised P402 million from its Social Development and Management Program (SDMP) to help combat the coronavirus disease 2019 (Covid-19) pandemic in the country, the Department of Environment and Natural Resources (DENR) reported. In a statement over the weekend, the DENR said mining firms have pooled together the remaining funds for their respective SDMP to assist their host and neighboring communities during the community quarantine imposed to contain the spread of Covid-19. To date, the mining sector has extended assistance to more than 1.4 million households and frontliners across the country. The DENR’s Mines and Geosciences Bureau (MGB) reported that as of July 8, some 1.2 million households have been provided with food packs, and vegetables and garden kits through the relief fund. This exceeded the initial target of around 1.184 million beneficiaries by more than 16,000, the MGB said. On top of this, the MGB said that close to 210,000 frontliners have been provided with personal protective equipment and medical supplies. Acting MGB Director Wilfredo Moncano had authorized mining compnies to realign their unutilized SDMP funds to help the national government in its fight against Covid-19. “The SDMP fund has components that can be sacrificed and realigned to respond and assist the clamor of the government and the community for assistance,” Moncano said, adding that 90 percent of the pooled SDMP funds have been utilized so far.
    [Show full text]
  • The Public Manager
    THE PUBLIC MANAGER OFFICIAL QUARTERLY NEWSLETTER OF THE CAREER EXECUTIVE SERVICE www.cesboard.gov.ph 4th Quarter 2017 Vol. 29 No. 4 DBM Secretary Benjamin Diokno keynotes the Opening Ceremony before the 818-strong crowd hailing from different gov- ernment agencies and regions. ight hundred eighteen (818) members of the welcome to the delegates saying, “It is my hope that CES converged for inclusive and sustainable each one shall be able to renew camaraderie or form development in the 16th Annual CES new ones, as it is always proven that those who work E th Conference in commemoration of its 44 founding harmoniously in unity win.” anniversary last November 21, 2017 in the Vibrant City of Smiles, Bacolod City. Agrarian Reform Undersecretary Rosalina L. Bistoyong, CESO I, Officer-in-Charge of the Office of the Aptly themed “GoVergence: Convergence for Secretary and National Union of CESOs, Inc. (NUCESO) Sustainable Development”, this year’s conference President, delivered her message of solidarity topics underscore the need for convergence in motivating government executives to engage more and governance as a catalyst for sustainable positive more in inter-agency coordination to strengthen change. alliances in the attainment of our country’s goals and targets. Bacolod City Mayor Evelio R. Leonardia, represented by Vice Mayor El Cid M. Familiaran, gave his warm 2 Page Page IN 3-26 HIGHLIGHTS OF THE 16TH ANNUAL CES 31 NEW CES POSITIONS CONFERENCE 32 SEPT 3 CES WE RESULTS THIS 27 CES PARTNERS’ NIGHT 33 CESB’S ISO 9001 CERTIFICATION 28 ANNUAL OUTREACH PROGRAM 33 PROJECT PAGLAUM #16 ISSUE 29 2017 HR FELLOWSHIP 34 4TH CES CLUB 30 ‘GOVERGENCE’ HEADED NORTH 35 NEW CES ELIGIBLES CES News 4th Quarter 2017 1 16th Annual CES Conference..
    [Show full text]
  • Q4 2018 ISSUE Table of Contents
    INVESTOR RELATIONS OFFICE Think Growth. Think Philippines. Q4 2018 ISSUE Table of Contents PHILIPPINE ECONOMY IN NUMBERS 1 Philippines keeps robust growth in 2018 3 Quick Stats 5 Monthly Report on Inflation for December 2018 6 Maiden ‘Banking Sector Outlook Survey’ REFORMS 8 BSP reactivates Currency Rate Risk Protection Program 9 President orders ease of importation of agricultural products 11 Government set to implement rice tariication 14 Government shis to cash-based budgeting 16 Peso-Renminbi trading facility launched 18 President Duterte signs Executive Order No. 65 20 TRABAHO bill seen to attract more job-creating investments, level tax playing field CREDIT RATINGS 23 Korean debt watcher keeps Philippines’ ‘BBB’ rating 25 Fitch airms Philippines’ ‘BBB’ rating INVESTOR RELATIONS 27 Philippines highlights bright economic prospects before Hong Kong, US investors 29 Top Philippine economic oicials discuss economic growth with international investors at IMF-WB meetings 31 Economic Briefing in London 33 Government caps Sulong Pilipinas 2018 37 Philippine economic, infra managers hail golden age of infra BUILD, BUILD, BUILD 39 Government preps for Philippines’ longest railway system 41 Philippines’ first smart city rising in Clark 43 World-class Mactan-Cebu Int’l Airport to boost Philippines’ air connectivity, tourism WHAT THEY SAY ABOUT THE PHILIPPINE ECONOMY 46 First Metro: Philippine Economy to grow faster in 2019 47 ‘Philippines faces brighter prospects in 2019’ 48 About the Investor Relations Oice Q4 2018 ISSUE Think Growth. Think Philippines. | Philippines keeps robust growth in 2018 Growth follows surge in public, private investments THE PHILIPPINE economy maintained robust “This is a firm finish that cements the Philippines’ growth in 2018, as the surge in government standing as one of the fastest-growing economies spending on infrastructure and social services was in Asia,” Socioeconomic Planning Secretary matched by a sustained rise in investments from Ernesto Pernia, Finance Secretary Carlos the private sector.
    [Show full text]
  • 2018 Annual Report
    About the Cover Table of Contents CORPORATE PROFILE 1 As we celebrate another year of groundbreaking achievements, we honor the Pag-IBIG Fund members. MESSAGES 3 Their trust and patronage propelled Pag-IBIG Fund into another best OPERATIONAL HIGHLIGHTS 9 year ever, hence the cover’s theme: “Tiwala at Tangkilik ng Miyembro, Matatag na Pondo.” AWARDS AND RECOGNITIONS 36 The heroic teacher, the humble janitor, the everyday office workers, PAG-IBIG FUND OFFICERS 42 and the tireless construction worker - all grace our cover as ordinary Filipino workers representing the members of Pag-IBIG Fund. AT A GLANCE 55 The arrow at the end of the golden thread signifies Pag-IBIG Fund’s FINANCIAL STATEMENTS 57 continued growth and upward trajectory. GOVERNANCE REPORT 117 The drawing from the Filipino workers to the arrow is made in one PROFILE OF THE BOARD 127 continuous golden line. This is to depict that even as it expands its business, Pag-IBIG Fund remains an organization that seeks sustainable DIRECTORY 139 growth, always guided by the welfare of its members as the primordial consideration. The unbroken line is also a representation that Pag-IBIG Fund management and staff is unwavering in its dedication to provide exceptional service to its members -- the true owners of the Fund. Corporate Objective Introduction 2017 To sustain membership growth and retention that would result to an average Pag-IBIG Fund’s accomplishments are built on the trust and support of its year-on-year growth of 5% in members’ savings collection until 2020, and members and stakeholders. Dahil sa patuloy na pagtitiwala at pagtatangkilik ng provide affordable home financing to low-income earners, capturing 88% of LTS mga miyembro ng Pag-IBIG Fund, lubos na nakapaghatid serbisyo at lalong tumatag from socialized housing and low-cost housing segments by 2020.
    [Show full text]