DOF asks MDBs for loans with lower interest rates • Jasper Y. Arcalas
AMID high interest rate environments and rising borrowing costs, the Department of Finance (DOF) has asked multilateral development banks (MDBs) to extend “more concessional” financing to low and middle-income countries like the Philippines. The United States Agency for International Development defines concessional loans, or soft loans, as having more generous terms than market loans. “These