Friday, April 25, 2025

PDIC remittance supports government’s economic agenda

The Philippine Deposit Insurance Corporation (PDIC) said its remittance to the Bureau of the Treasury to the tune of P107.23 billion does not jeopardize the soundness of the Deposit Insurance Fund (DIF). 
“We assure the public that the Deposit Insurance Fund (DIF) remains robust and sufficient to cover risks within the banking system,” said PDIC President Roberto B. Tan in a statement. “The DIF continues to be maintained at levels aligned with international best practices.”
The government also emphasizes that the PDIC manages the DIF prudently. “The PDIC remains committed to safeguarding the trust and confidence of depositors,” a statement added.
The remittance to the Bureau of the Treasury (BTr) is in compliance with the 2024 General Appropriations Act and the legal opinion of the Office of the Government Corporate Counsel.

The remittance will fund critical projects such as infrastructure, social programs, rural development, and foreign-assisted projects.

On infrastructure, the fund will help in the maintenance and repair of major infrastructure facilities, Metro Manila Subway Project, Panay-Guimaras-Negros Island Bridges, and North-South Commuter Railway System.

It will also extend protective Services for Individuals and Families in Difficult Circumstances, Philippine Food Stamp Program, Assistance to Individuals in Crisis Situations.

The fund will also provide financial subsidy for the purchase of photovoltaic mainstreaming (Solar Home System).

In addition, the PDIC fund may be used in foreign-assisted projects such as the Philippine Multi-Sectoral Nutrition Project, Mindanao Inclusive Agriculture Development Project, Cebu-Mactan Bridge and Coastal Road Construction Project, Support to Parcelization of Lands for Individual Titling Project, Teacher Effectiveness and Competencies Enhancement Project, Philippine Fisheries and Coastal Resiliency Project.

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