Hanoi (VNA) – The Philippines has so far secured a total of 8.83 billion USD in borrowings, loans and grant assistance for the government's COVID-19 response efforts from its development partners and the commercial markets, China’s Xinhua News Agency reported. The Philippine Department of Finance (DOF) said on September 6 that of the total amount, 5.98 billion USD is budget support financing from the Asian Development Bank, the World Bank, the Asian Infrastructure Investment Bank, the French Development Agency and the Japan International Cooperation Agency. A total of 2.35 billion USD was sourced from the government's latest global bond offering that fetched its lowest ever coupon in the USD market, the DOF added. The DOF said the remaining 496.36 million USD is from grant and loan financing from the Philippines' development partners for various COVID-19 specific projects. Finance Secretary Carlos Dominguez said that total government borrowings for 2020 and 2021 … [Read more...] about Philippines secures over 8.8 bln USD for COVID-19 response
