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October 01, 2023

Blue Finance and UBS partner to boost Philippines’ ‘Blue Economy’ with loan facility for marine conservation

Blue Finance Group and UBS Optimus Foundation UK have partnered to provide a loan facility of $600,000 for the marine sector in the Philippines.

The loan aims to support the “blue economy” initiatives focused on marine protection, coral reef regeneration, biodiversity enhancement, and livelihood improvement, while demonstrating the financial viability and impact potential of their approach.

The funding will contribute to the management and protection of coral reef ecosystems and sustainable revenue mechanisms.

The initiative is also a move towards the achievement of UNDP Sustainable Development Goals, with repayment through nature-based ecotourism, carbon credits, and aquaculture projects.


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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