February 26, 2021
By Opportunity International
On Saturday, February 20, 2021, we presented the first of a series of 50th anniversary awards. The first Founders Circle Awards went to a group of Opportunity International pioneers who helped us innovate our strategies and programs to better serve clients. These awards celebrate the earliest days of initiatives that have come to define Opportunity s work and we are so excited to go back and remember how these programs began. Enjoy the first spotlight on a winner:
In 2005 and 2006, then-Opportunity CEO Chris Crane found himself at the intersection of the big picture and the specific story.
The big picture was from Dr. James Tooley of the International Finance Committee, who had discovered the power of low-cost private schools that were springing up to bridge the gaps and failures of public education systems.
MANILA, Feb. 7 The Department of Finance (DOF) has contracted a total of US$17.06 billion in affordable financing from external sources in 2020 for key infrastructure projects and other priority programs, and for helping bridge the wider fiscal deficit incurred last year because of the huge state spending on COVID-19 response measures.
Spearheaded by its International Finance Group (IFG), the DOF secured US$7.73 billion or 45.3 percent of this amount from multilateral lenders, US$2.86 billion (16.7 percent) from the Philippines’ bilateral partners, and US$6.47 billion (37.9 percent) from the commercial markets.
The continued provision last year of program loans from the Philippines’ bilateral and multilateral partners is “a testament to the timely delivery of our key sectoral reforms, said Finance Undersecretary Mark Dennis Joven in his report to Finance Secretary Carlos Dominguez III.
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Metro Manila (CNN Philippines, February 7) - The Department of Finance had secured a total of US $17.06-billion foreign loans in 2020 for key infrastructure projects and to help bridge the wider fiscal deficit due to huge amount spent on pandemic response.
Through its International Finance Group, the DOF said that it was able to secure last year $7.73 billion from multilateral lenders, $2.86 billion from the country s bilateral partners, and $6.47 billion from the commercial markets.
Of the $17.06 billion loans contracted in 2020, around $15.44 billion was allotted for emergency requirements for Covid-19 response and $1.62 billion was allotted to other government initiatives including the Build, Build, Build program.
Gov t eyes P1 trillion in foreign loans bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.