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October 01, 2023

BDO grants financing assistance to water projects

The big bank provided loans for better water access for the Filipinos.

Banco de Oro Unibank Inc. (BDO), led by Bankero Nestor Tan announced it has extended loans to various water projects in the country in a bid to provide water better access for the Filipinos.

In particular, BDO granted loans for:

(i) San Miguel Corp.’s Luzon Clean Water Development Corporation;

(ii) Razon Group’s Wawa Bulk Water Supply Project; and

(iii) Bulacan Bulk Water Supply Project.

The said long-term loan facility is set to be used to back the treatment and delivery of bulk water to government units in the province.

LCWDC’s synergy with BDO has thrived since they started transacting with the said financial institution in 2016.


BSP disqualifies unregistered money service business

The Bangko Sentral ng Pilipinas (BSP) has disqualified Riyben Foreign Exchange for operating an unregistered money service business, part of BSP’s ongoing efforts to curb unauthorized MSBs, following similar actions taken against six other firms earlier this year.

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