RP Gov’t to borrow $655M for welfare programs
9 February 2010
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MANILA – The Bangko Sentral ng Pilipinas (BSP) has approved the government’s plan to tap foreign developmental institutions for $655 million in loans to finance the country’s social welfare programs.
BSP Deputy Governor and Officer in Charge Amando Suratos said the loans would come from the International Bank for Reconstruction and Development (IBRD), Japan International Cooperation Agency (JICA) and Asian Development Bank (ADB).
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