The Philippine Banking System
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22.4-Hectare Mango Farm W/ 289 Mature Trees in Aguilar, Pangasinan
Properties for sale and rent in Philippines - Add your property free https://www.philippinesproperties.com/philippines/ 22.4-Hectare Mango Farm w/ 289 Mature Trees in Aguilar, Pangasinan Seller Info Name: Jed Cudala Actual First Jose Eduardo Name: Actual Last Cudala Name: First Name: Jed Last Name: Cudala Service Type: Buying or Selling Phone: +63 (917) 936-2211 Country: Philippines State/Region/Pr National Capital Region ovince: City: Pasig ZIP code: 1601 Address: Pasig City About me: [email protected] +632.8245.9339 +63917.936.2211 Listing details Property Description: Asking Price: P120 per sqm Existing Income-Generating Farm Suitable for Residential or Resort Development Concrete Road Frontage On 2 Sides Along Pangasinan-Zambales Connecting Road 1 Km Concrete Rd to Tarlac-Pangasinan (Romulo) Hi-Way 2 Kms to Aguilar Plaza/Market/Town Proper Area Already Surrounded By Residential Development Beside Dona Catalina Elementary School OTHER PANGASINAN PROPERTIES FOR SALE AGRICULTURAL (Mango) Nagpalangan, Binmaley - 6,294 sqm @ P185/sqm Sual, Pangasinan - 8 Ha. @ P59/sqm page 1 / 3 Properties for sale and rent in Philippines - Add your property free https://www.philippinesproperties.com/philippines/ RICELAND Bocacleo, Aguilar - 6.7 Ha. @ P79/sqm Nagpalangan, Binmaley - 9.6 Ha. @ P219/sqm New Poblacion, Bugallon - 1.9 Ha. @ P169/sqm Umanday/Anago, Bugallon - 1.9 Ha. @ P139/sqm Salomague/Salasa, Bugallon - 46 Ha. @ P139/sqm Pampano, Mangatarem – 12.6 Ha. @ P30/sqm Bolo, Labrador – 3.4 Ha. @ TBA FISHPOND Dulag, Binmaley - 11.9 Ha. @ P735/sqm Pototan, Binmaley - 18.1 Ha. @ P680/sqm Poblacion, Lingayen - 1.8 Ha. @ P799/sqm Nagpalangan, Binmaley - 19.8 Ha. -
As of 09 July 2012 Rural Bank Partner Address
RURAL BANK PARTNER ADDRESS AS OF 09 JULY 2012 Pick-up channel Branch Address 1 Bangko Kabayan BALAYAN BRANCH Antorcha St., Balayan, Batangas 2 Bangko Kabayan AGONCILLO BRANCH J. Mendoza Street, Poblacion, Agoncillo, Batangas 3 Bangko Kabayan BATANGAS CITY BRANCH Romero Dy. Bldg., P. Burgos St. Batangas City 4 Bangko Kabayan CALACA BRANCH Marasigan St. Poblacion, Calaca, Batangas 5 Bangko Kabayan CALATAGAN BRANCH Ayala St. Brgy 3, Poblacion Calatagan, Batangas 6 Bangko Kabayan CUENCA BRANCH National Road, Poblacion, Cuenca, Batangas 7 Bangko Kabayan IBAAN BRANCH Santiago Street, Poblacion, Ibaan, Batangas 8 Bangko Kabayan LEMERY BRANCH Ilustre St., Poblacion, Lemery, Batangas 9 Bangko Kabayan MABINI BRANCH Poblacion Mabini, Batangas 10 Bangko Kabayan NASUGBU BRANCH P. Rinosa St. Poblacion Nasugbu, Batangas 11 Bangko Kabayan ROSARIO BRANCH Barangay C Poblacion Rosario, Batangas 12 Bangko Kabayan SAN JOSE BRANCH Taysan, San Jose, Batangas 13 Bangko Kabayan SAN JUAN BRANCH Gen. Luna Street, Poblacion San Juan, Batangas 14 Bangko Kabayan SAN PASCUAL BRANCH San Antonio, San Pascual, Batangas 15 Bangko Kabayan TANAUAN BRANCH J.P. Laurel Highway (National Highway), Tanauan City, Batangas 16 Bangko Kabayan LIPA CITY BRANCH Laguerta Bldg., P. Torres ST., Lipa City 17 Bank of Florida PULILAN BRANCH Barangay Cutcut, Pulilan, Bulacan 18 Bank of Florida GLOBAL CITY BRANCH Unit 6, 3rd Flr., The Fort Strip Building, Bonifacio Center, Fort Bonifacio, Global City, Taguig 19 Bank of Florida ARAYAT BRANCH Poblacion, Arayat, Pampanga 20 Bank of Florida CANDABA BRANCH Poblacion, Candaba, Pampanga 21 Bank of Florida FLORIDABLANCA BRANCH Poblacion, Floridablanca, Pampanga 22 Bank of Florida GUAGUA BRANCH Plaza Burgos, Guagua, Pampanga 23 Bank of Florida MABALACAT BRANCH Sta. -
Cost of Doing Business in the Province of Iloilo 2017 1
COST OF DOING BUSINESS IN THE PROVINCE OF ILOILO 2017 Cost of Doing Business in the Province of Iloilo 2017 1 2 Cost of Doing Business in the Province of Iloilo 2017 F O R E W O R D The COST OF DOING BUSINESS is Iloilo Provincial Government’s initiative that provides pertinent information to investors, researchers, and development planners on business opportunities and investment requirements of different trade and business sectors in the Province This material features rates of utilities, such as water, power and communication rates, minimum wage rates, government regulations and licenses, taxes on businesses, transportation and freight rates, directories of hotels or pension houses, and financial institutions. With this publication, we hope that investors and development planners as well as other interested individuals and groups will be able to come up with appropriate investment approaches and development strategies for their respective undertakings and as a whole for a sustainable economic growth of the Province of Iloilo. Cost of Doing Business in the Province of Iloilo 2017 3 4 Cost of Doing Business in the Province of Iloilo 2017 TABLE OF CONTENTS Foreword I. Business and Investment Opportunities 7 II. Requirements in Starting a Business 19 III. Business Taxes and Licenses 25 IV. Minimum Daily Wage Rates 45 V. Real Property 47 VI. Utilities 57 A. Power Rates 58 B. Water Rates 58 C. Communication 59 1. Communication Facilities 59 2. Land Line Rates 59 3. Cellular Phone Rates 60 4. Advertising Rates 61 5. Postal Rates 66 6. Letter/Cargo Forwarders Freight Rates 68 VII. -
DIRECTORY of PDIC MEMBER RURAL BANKS As of 27 July 2021
DIRECTORY OF PDIC MEMBER RURAL BANKS As of 27 July 2021 NAME OF BANK BANK ADDRESS CONTACT NUMBER * 1 Advance Credit Bank (A Rural Bank) Corp. (Formerly Advantage Bank Corp. - A MFO RB) Stop Over Commercial Center, Gerona-Pura Rd. cor. MacArthur Highway, Brgy. Abagon, Gerona, Tarlac (045) 931-3751 2 Agribusiness Rural Bank, Inc. 2/F Ropali Plaza Bldg., Escriva Dr. cor. Gold Loop, Ortigas Center, Brgy. San Antonio, City of Pasig (02) 8942-2474 3 Agricultural Bank of the Philippines, Inc. 121 Don P. Campos Ave., Brgy. Zone IV (Pob.), City of Dasmariñas, Cavite (046) 416-3988 4 Aliaga Farmers Rural Bank, Inc. Gen. Luna St., Brgy. Poblacion West III, Aliaga, Nueva Ecija (044) 958-5020 / (044) 958-5021 5 Anilao Bank (Rural Bank of Anilao (Iloilo), Inc. T. Magbanua St., Brgy. Primitivo Ledesma Ward (Pob.), Pototan, Iloilo (033) 321-0159 / (033) 362-0444 / (033) 393-2240 6 ARDCIBank, Inc. - A Rural Bank G/F ARDCI Corporate Bldg., Brgy. San Roque (Pob.), Virac, Catanduanes (0908) 820-1790 7 Asenso Rural Bank of Bautista, Inc. National Rd., Brgy. Poblacion East, Bautista, Pangasinan (0917) 817-1822 8 Aspac Rural Bank, Inc. ASPAC Bank Bldg., M.C. Briones St. (Central Nautical Highway) cor. Gen. Ricarte St., Brgy. Guizo, City of Mandaue, Cebu (032) 345-0930 9 Aurora Bank (A Microfinance-Oriented Rural Bank), Inc. GMA Farms Building, Rizal St., Brgy. V (Pob.), Baler, Aurora (042) 724-0095 10 Baclaran Rural Bank, Inc. 83 Redemptorist Rd., Brgy. Baclaran, City of Parañaque (02) 8854-9551 11 Balanga Rural Bank, Inc. Don Manuel Banzon Ave., Brgy. -
2018 Financial Statements
We acknowledge the support and cooperation that Management extended to the Audit Team, thus facilitating the completion of the report. Very truly yours, COMMISSION ON AUDIT Director IV Cluster Director Copy Furnished: The President of the Philippines The Chairperson - Appropriations Committee The Vice President The Secretary of the Department of Budget and Management The President of die Senate The Governance Commission of Government-Owned or Controlled Corporation The Speaker of the House of Representatives The National Library The Chairperson - Senate Finance Committee The UP Law Center Republic of the Philippines COMMISSION ON AUDIT Commonwealth Ave., Quezon City ANNUAL AUDIT REPORT on the OVERSEAS FILIPINO BANK, INC. (A Savings Bank of Landbank) For the years ended December 31, 2018 and 2017 EXECUTIVE SUMMARY INTRODUCTION Overseas Filipino Bank, Inc., A Savings Bank of LANDBANK, formerly known as Philippine Postal Savings Bank, Inc. (PPSBI) is a subsidiary of the Land Bank of the Philippines (LBP). On September 26, 2017, President Rodrigo Duterte issued Executive Order No. 44, which mandates the Philippine Postal Corporation and the Bureau of Treasury to transfer their PPSBI shares to Landbank at zero value. The EO further stated that Postbank will be converted into the Overseas Filipino Bank. On January 5, 2018, the PPSBI registered with the Securities and Exchange Commission the Amended Articles of Incorporation bearing the new corporate name. The Bangko Sentral ng Pilipinas through its Circular Letter No. CL-2018-007 dated January 18, 2018 approved the change of corporate name of the PPSBI to “Overseas Filipino Bank, Inc., a Savings Bank of LANDBANK”. As stated in its Vision, OFBI is a Digital Bank servicing Overseas Filipinos and their Beneficiaries through state-of-the-art Electronic Banking Channels such as Mobile Phone, ATM and Internet which are more convenient, faster (real-time), cheaper and secure, eliminating the need for over-the-counter services. -
2019 ANNUAL REPORT [email protected]
PHILIPPINE DEPOSIT INSURANCE CORPORATION TAKING THE HELM, Philippine Deposit Insurance Corporation SSS Bldg., 6782 Ayala Ave. cor. V.A. Rufino St. ONWARD TO A NEW HORIZON 1226 Makati City, Philippines 2019 ANNUAL REPORT www.pdic.gov.ph [email protected] 1 PHILIPPINE DEPOSIT INSURANCE CORPORATION TAKING THE HELM, Philippine Deposit Insurance Corporation SSS Bldg., 6782 Ayala Ave, cor. V.A. Rufino St. ONWARD TO A NEW HORIZON 1226 Makati City, Philippines 2019 ANNUAL REPORT www.pdic.gov.ph [email protected] CONTENTS 01 Corporate Profile 02 The Philippine Deposit Insurance System 03 Transmittal Letters 06 Chairman’s Message ABOUT THE COVER 08 President’s Report Titled “Taking the Helm, Onward to a New Horizon”, the 2019 15 Corporate Operating Environment Annual Report wraps up another trilogy of PDIC annual reports, from “Changing Horizons” in 2017 and “A New Horizon” in 18 Institutional Governance Framework 2018. The horizon, represented by the ever-evolving financial 22 Strengthening Depositor Protection landscape that PDIC navigates, is full of challenges, and the Corporation continues to face it head on. The PDIC is undeterred 36 Ensuring Good Governance by the currents and is committed to create ripples of positive 50 Promoting Financial Stability change in the service of its clients and stakeholders. 68 Financial Performance The organization’s readiness and earnest desire to serve 74 Corporate Direction for 2020 is communicated through this year’s cover design -- young professionals take determined strides towards the rising sun, 78 Board of Directors embodying confidence that the PDIC is in the right direction to 86 Executive Committee accomplish its Vision to be a leading institution in depositor 87 Group Heads protection recognized for its operational excellence that is responsive to the changing times. -
(Indicate JA, CV, OSHI ) DATE of INSPECTION MAJOR ISSUE NO
Republic of the Philippines DEPARTMENT OF LABOR AND EMPLOYMENT DOLE Regional Office 02 REFERENCE DATE: As of June 30, 2019 LIST OF PENDING CASES CASE ARISING NAME OF PARTY DATE OF NO. OF DAYS TOTAL YEAR No. CASE NUMBER FROM: (Indicate MAJOR ISSUE FEMALE COMPLAINED /address INSPECTION PENDING * EMPLOYEES INSPECTED JA, CV, OSHI ) NPR/ UP-W.O.18/ NP-13TH/ NP- HP/ NP-PP/ NP-SIL/ NON COV. OF 1 COUNTRY INN HOTEL AND RESTAURANT/samok-samok, centro, sta.ana, cagayan RO200-1804-CI-0007-ISA CI 04/03/2018 451 34 21 2018 SSS/PHIC/HDMF/ FAT/ SAFCOM/ SAFETY OFFICER 2 JOLLIBEE FOODS CORP.SM DOWNTOWN CENTER, UGAC,TUG.CITY, CAGAYAN RO200-1804-RI-0027-CAG RI 03/22/2018 NO SAFETY OFFICER/ ELEMENTS OF LOC 463 7 6 2018 3 MANG INASAL/SM DOWNTOWN CENTER, UGAC, TUG.CITY, CAGAYAN RO200-1804-RI-0028-CAG RI 03/20/2018 ELEMENTS OF LOC/ NO SAFETY OFFICER/ NO FAT 465 5 3 2018 4 FRESH AND FAMOUS FOODS INC (GREENWICH)/SM DOWNTOWN CENTER, UGAC, TUG.CITY, CAGAYAN RO200-1804-RI-0029-CAG RI 03/22/2018 NPR/ ELEMENTS OF LOC 463 4 2 2018 5 JOLLIBEE FOODS CORP./BONIFACIO COR.GOMEZ ST.TUGUEGARAO CITY, CAGAYAN RO200-1804-RI-0033-CAG RI 03/22/2018 SOT/ LOC 463 10 7 2018 6 FRESH AND FAMOUS FOODS INC (CHOWKING)/SM DOWNTOWN CENTER, UGAC, TUG.CITY, CAGAYAN RO200-1804-RI-0034-CAG RI 03/21/2018 NPR/ NO RULE 1020/ ELEMENTS OF LOC 464 22 13 2018 7 JOLLIBEE FOODS CORP., BUNTUN, TUGUEGARAO CITY, CAGAYAN RO200-1804-RI-0035-CAG RI 03/21/2018 NPR/ ELEMENTS OF LOC 464 8 5 2018 8 JOLLIBEE FOODS CORP./JP RIZAL AVE.COR.GADDANG ST.,POBLACION NORTH, SOLANO, NUEVA VIZCAYA RO200-1805-RI-0001-NV RI -
Updated 2018 GLMS Compliance Status Data Presented Is Based from the Goccs’ Compliance As of 06 December 2019 Updated 2018 GLMS Compliance Status
Updated 2018 GLMS Compliance Status Data presented is based from the GOCCs’ Compliance as of 06 December 2019 Updated 2018 GLMS Compliance Status 30 GOCC SECTOR COMPLIANT NON-COMPLIANT Government Financial 25 2 25 Institutions Trade, Area Development 15 2 and Tourism 20 Education and Cultural 3 1 Gaming 1 1 Energy and Materials 8 1 15 Agriculture, Fisheries and 10 4 Food Utilities and No. of GOCCs of No. 14 4 10 Communications Healthcare Services 0 0 Holding Companies 5 0 5 Total Compliant GOCCs 81 0 Government Trade, Area Education and Gaming Sector Energy and Agriculture, Utilities and Healthcare Holding Financial Development Cultural Sector Materials Sector Fisheries and Communications Services Sector Companies Total Non-compliant GOCCs 15 Institutions Sector and Tourism Food Sector Sector Sector GOCC Sector COMPLIANT NON-COMPLIANT Data presented is based from the GOCCs’ Compliance as of 06 December 2019 Updated 2018 GLMS Compliance Status LIST OF COMPLIANT GOCCs 1. Al-Amanah Islamic Investment Bank of the Philippines 16. Philippine Deposit Insurance Corporation 2. Development Bank of the Philippines 17. Small Business Corporation 3. DBP Data Center, Inc. 18. Philippine Guarantee Corporation (formerly PHILEXIM) 4. Land Bank of the Philippines 19. Employees Compensation Commission 5. Land Bank Countryside Development Foundation, Inc. 20. Government Service Insurance System 6. LBP Resources and Development Corporation 21. Home Development Mutual Fund 7. Overseas Filipino Bank, Inc. 22. Philippine Health Insurance Corporation 8. Credit Information Corporation 23. Social Security System 9. DBP Leasing Corporation 24. Center for International Trade Expositions and Missions 10. LBP Insurance Brokerage, Inc. 25. Duty Free Philippines Corporation 11. -
No. Region City Station Address 1 North Luzon Ilocos Norte Petron Station Bgy
LIST OF PARTICIPATING PETRON STATIONS FOR DRIVE FOR JOY PROMO NO. REGION CITY STATION ADDRESS 1 NORTH LUZON ILOCOS NORTE PETRON STATION BGY. 16, PAYAS, SAN NICOLAS 2 NORTH LUZON ILOCOS NORTE PETRON STATION BGY.51-A NANGALISAN, LAOAG CITY 3 NORTH LUZON ILOCOS SUR PETRON STATION NATIONAL HIGHWAY, BARANGAY 5, 4 NORTH LUZON ILOCOS SUR PETRON STATION NATIONAL HIGHWAY, BACANI 5 NORTH LUZON ILOCOS SUR PETRON STATION JOSE SINGSON VIII, VIGAN 6 NORTH LUZON ILOCOS SUR PETRON STATION SAOAT, STA. CRUZ 7 NORTH LUZON ILOCOS SUR PETRON STATION MAHARLIKA HIGHWAY, SAN VICENTE SAN ILDEFONSO, 8 NORTH LUZON ILOCOS SUR PETRON STATION POBLACION STO DOMINGO 9 NORTH LUZON ILOCOS SUR PETRON STATION NATIONAL HIGHWAY BGY. CAMP 1 UDIAO, LA UNION 10 NORTH LUZON ILOCOS SUR PETRON STATION ORTIZ NAGUILIAN, LA UNION 11 NORTH LUZON ILOCOS SUR PETRON STATION MC ARTHUR HIGHWAY, CENTRAL WEST, LA UNION 12 NORTH LUZON ILOCOS SUR PETRON STATION PROVINCIAL ROAD, BARANGAY SANTIAGO, SAN FERNANDO, LA UNION 13 NORTH LUZON ILOCOS SUR PETRON STATION CANAOAY, LA UNION SAN FERNANDO CITY 14 NORTH LUZON PANGASINAN PETRON STATION BRGY. BABASIT MANAOAG 15 NORTH LUZON ILOCOS SUR PETRON STATION BACCUIT NORTE, BAUANG, LA UNION 16 NORTH LUZON PANGASINAN PETRON STATION SAPANG MANAOAG 17 NORTH LUZON PANGASINAN PETRON STATION MACARTHUR HIGHWAY, URDANETA, 18 NORTH LUZON BAGUIO CITY PETRON STATION 30 HARRISON 19 NORTH LUZON BAGUIO CITY PETRON STATION 1 FERGUSON COR. NAGUILIAN ROAD 20 NORTH LUZON BAGUIO CITY PETRON STATION KM. 4.5 G. VALLEY, MARCOS HI-WAY 21 NORTH LUZON BAGUIO CITY PETRON STATION LEGARDA ROAD BRGY CITY CAMP PROPER BENGUET 22 NORTH LUZON PANGASINAN PETRON STATION HIGHWAY CARMEN ROSALES 23 NORTH LUZON PANGASINAN PETRON STATION CARMEN WEST ROSALES, 24 NORTH LUZON PANGASINAN PETRON STATION PUROK 3 BRGY. -
Jennie $L Tl)F Frr:R»T«Rp
EIGHTEENTH CONGRESS OF THE ) REPUBLIC OF THE PHILIPPINES ) First Regular Session ) Jennie $l tl)f frr:r»t«rp SENATE •If OEC-9 A 9 flf P. S. RES. N 0234 RECEi (. D S'-'. Introduced by Senator JOEL VILLANUEVA RESOLUTION DIRECTING THE COMMITTEE ON LABOR, EMPLOYMENT AND HUMAN RESOURCES DEVELOPMENT, AND COMMITTEE ON BANKS, FINANCIAL INTERMEDIARIES, AND CURRENCIES, AND OTHER APPROPRIATE SENATE COMMITTEES TO INQUIRE AND REVIEW, IN AID OF LEGISLATION, THE EXTENSION OF CREDIT TO OVESEAS FILIPINOS AND OVERSEAS FILIPINO WORKERS, INCLUDING THE OPERATIONS OF THE OVERSEAS FILIPINO BANK WHEREAS, Section 35(c) of Republic Act No. 10801, otherwise known as the Overseas Workers Welfare Administration (OWWA) Act, mandates OWWA to provide low-interest loans to member-Overseas Filipino Workers; WHEREAS, Executive Order No. 44, series of 2017, acknowledges the need to establish a bank dedicated to provide financial products and services tailored to the requirements of Overseas Filipinos (OFs) and focused on delivering quality and efficient foreign remittance services. Correspondingly, Section 1 of Executive Order No. 44 directs the acquisition of the Philippines Postal Savings Bank (PPSB) by the Land Bank of the Philippines (LBP) and its conversion into an Overseas Filipino Bank, subject to the approval and/or clearance of the Bangko Sentral ng Pilipinas (BSP), Securities and Exchange Commission (SEC), Philippine Deposit Insurance Corporation (PDIC) and the Philippine Competition Commission (PCC); WHEREAS, The Overseas Filipino Bank is envisaged to be a fully “Digital Bank" servicing Overseas Filipino Workers through various electronic banking channels such as mobile phones. Automated Teller Machines (ATMs), and the internet, thereby removing the need for the establishment of physical branches and delivery of over-the-counter services.1 However, it appears that the Overseas Filipino ' “Vision and Mission." Overseas Filipino Bank. -
2016-Annual-Report.Pdf
ABOUT DOLE VISION “Every Filipino worker attains full, decent and productive employment” MISSION • To promote gainful employment opportunities; • To develop human resources; • To protect workers and promote their welfare; and • To maintain industrial peace. ORGANIZATION The DOLE has 10 agencies attached to it for program supervision and/or policy coordination, 6 Bureaus, 7 staff services, 16 regional offices, and 34 Philippine Overseas Labor Offices. It has a total manpower complement of 9,430. CLIENTS The DOLE serves 43.361 million1 workers comprising the Philippine labor force. Of this total, 40.998 million1 are employed while 2.363 million1 are unemployed. Outside the country, it serves 10.239 million2 Overseas Filipino Workers (OFWs) comprising both the temporary and irregular workers. Sources of data: 1 Current Labor Statistics (July 2017 Issue) Philippine Statistics Authority 2 Commission on Filipinos Overseas (as of December 2013 data) CONTENTS LETTER TO THE PRESIDENT SECRETARY’S MESSAGE PERFORMANCE REPORT Ensure compliance with labor laws and standards, particularly the right 01 to security of tenure Enhance workers employability and competitiveness of micro, small and 05 medium enterprises to address unemployment and underemployment 13 Strengthen protection and security of Overseas Filipino Workers 21 Strengthen social protection for vulnerable workers 25 Ensure just, simplified, and expeditious resolution of all labor disputes Achieve a sound, dynamic, and stable industrial peace with free and 27 democratic participation of workers and employers in policy and decision-making processes affecting them Streamline business processes and made frontline services responsive to 31 the people’s needs FINANCIAL REPORT DIRECTORY LETTER TO THE PRESIDENT RODRIGO ROA DUTERTE Republic of the Philippines Malacañang, Manila SIR, I am pleased to submit the Annual Report of the Department of Labor and Employment for 2016 pursuant to Section 43-46, Chapter 11, Book 1 of Executive Order No. -
Public Information and Consultation on LGU Credit Financing the Bureau of Local Government Finance
Public Information And Consultation On LGU Credit Financing The Bureau of Local Government Finance Attached agency of the DOF Supports the DOF in its mandate to “supervise the revenue operations of all local government units” • Central Office in Manila, with 15 Regional Offices • Mandated to “develop and promote plans and programs for the improvement of resource management systems, collection enforcement mechanisms and credit utilization schemes at the local levels” • Issues Certificate of Net Debt Service Ceiling (NDSC) and Borrowing Capacity (BC) to LGUs 2 Policy Thrust and Legal Framework Local Debt Policy Build capacity of local governments to borrow money to cover their expenditure responsibilities, devolved functions Prioritize financing capital infrastructure expenditure and tax flows and to foster political accountability out of these decisions National Government has to manage LGU debts to: ▪ Prevent a systemic LGU debt crisis that could force the National Government to bail out heavily indebted LGUs; ▪ Strengthen the implementation of the statutory limit on LGU debts; and ▪ Promote responsible and credible debt management among LGUs. 3 Policy Thrust and Legal Framework Legal Framework of Subnational Debts in the Philippines Sec. 296 of LGC, Art. 395 Sec. 324 of LGC LGC IRR Appropriations of 20% of the LGU’s regular income for debt LGUs may create indebtedness servicing and avail of credit facilities for local infra and socio-economic development projects with government or private banks and lending institutions Art. 403 LGC