BSP Okays $178-M In Foreign Loan

The Bangko Sentral ng Pilipinas (BSP) reported that for the period July to September 2022, or the third quarter of this year, the Monetary Board (MB) approved only one public sector foreign borrowing of $178.10 million.

Photo Insert: The BSP said this borrowing of the Republic of the Philippines will be used to fund the national government's multi-sector nutrition project that seeks to support the delivery of nutrition and health care services at the primary care and community levels.

It said this is 96% lower than the borrowings approved in the same period in 2021, which amounted to $4.66 billion, and 95% lower than the approvals quarter-on-quarter in 2022, which amounted to $3.54 billion.

The BSP said this borrowing of the Republic of the Philippines will be used to fund the national government's multi-sector nutrition project that seeks to support the delivery of nutrition and healthcare services at the primary care and community levels.

Its aim is to reduce stunting, a condition traced to the prolonged nutritional deficiency among infants and young children in 235 municipalities all over the country that are known to have high incidence of poverty and malnutrition.

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