BSP's Monetary Board OKs $3.81B foreign borrowings

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00:00Foreign borrowings of the public sector increase in the third quarter of 2024.

00:04In the meantime, GSIS allots emergency loans for members and pensioners hit by calamities.

00:10This and other stories in tonight's business news wrap-up by Kate Rania.

00:17The Monetary Board approved US$3.81 billion in foreign loans for the public sector for the

00:23period of July to September 2024, a 36% increase from the same period last year.

00:30This includes a bond, two project loans, and a program loan. The funds will support the national

00:35budget, maritime safety, agrarian reform, and economic recovery. All foreign loans require

00:41prior approval from the Banco Central ng Pilipinas as per the 1987 Constitution.

00:47Agriculture Secretary Francisco Chu Laurel Jr. met Lao PDR's Agriculture Minister

00:53Lingtham Duong-Savan at the World Food Forum in Rome to enhance farming cooperation.

00:59They discuss an agreement to improve food security and promote sustainable agriculture

01:04in both countries and Southeast Asia. The Memorandum of Understanding outlines several

01:09key initiatives. This agreement aims to build a stronger agricultural sector and ensure a

01:15sustainable food future in the region. The Department of Agriculture has approved

01:21ASF vaccinations for pigs in commercial farms. Many small farmers are not participating,

01:27so this will help speed up the process. Only producers in the Integrated National

01:31Swine Production Initiatives for Recovery and Expansion, or INSPAR, program can join.

01:36This vaccination aims to control the ASF, increase supply, and lower prices.

01:42The Government Service Insurance System, or GSIS, is offering over P2.8 billion in emergency loans

01:49to 87,000 members and pensioners in nine affected areas in Luzon and Visayas. Active members must

01:55not be on unpaid leave and have made six premium payments, while pensioners need a monthly pension

02:01of at least 25%. Applications can be accessed through the GSIS Touch-Up, with deadlines

02:07extending to 2025. Kate Renya, from The National TV, for Indian and Other Philippines.

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