DoF converts reference rate on IBRD loans

Dec 16, 2023 12:25 am

THE Department of Finance (DoF) on Friday announced it has converted $11.13 billion in outstanding World Bank loans to a fixed rate.

Through the Bureau of Treasury, the Finance department has effectively shifted the reference rate from floating to fixed for $11.13 billion (approximately P619.74 billion) in outstanding loans with the World Bank-International Bank for Reconstruction and Development (WB-IBRD).

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