Finance Secretary Carlos Dominguez on behalf of the Philippines, and Asian Development Bank Vice President Ahmed Saeed for the multilateral financial institution signed on Thursday (July 11) the USD 1.3-billion loan agreement representing the first tranche of ADB’s financing for the Malolos-Clark Railway Project (MCRP) in Malacañan Palace. The signing ceremony was witnessed by President Rodrigo Roa Duterte. ADB will help finance this project through a multi-tranche financing facility amounting to USD 2.75 Billion. This is ADB's single largest infrastructure investment in the Philippines and in any country.
Finance Secretary Dominguez led the awarding of certificates of acknowledgement to representatives of Government-Owned and Controlled Corporations (GOCC) that emerged as the top dividend contributors this year, during the GOCC Day held on Thursday (July 11) in Malacañan Palace. President Rodrigo Duterte graced the occasion. As of July 2019, the total dividend collection of P61.3 Billion is the highest amount ever collected from GOCCs. The amount includes cash and dividend contributions retained by government financial institutions to boost their capital requirements. Secretary Dominguez said the dividends will go a long way in helping the government fund its massive infrastructure and social development programs.
The Department of Finance (DOF), Department of Labor and Employment (DOLE) along with other relevant agencies signed on Thursday (July 11) the Implementing Rules and Regulations of the First-Time Jobseekers Assistance Act or R.A. 11261.
The Department of Finance (DOF), Department of Labor and Employment (DOLE) along with other relevant agencies signed on Thursday (July 11) the Joint Memorandum Circular (JMC) on the Rules and Procedures Governing Foreign Nationals Intending to Work in the Philippines.
The Department of Finance(DOF) is the government's steward of sound fiscal policy. It formulates revenue policies that will ensure funding of critical government programs that promote welfare among our people and accelerate economic growth and stability.Learn More