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Philippines News Agency

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The Philippines News Agency

The Philippines News Agency (PNA) is a web-based newswire service of the Philippine government. The PNA Headquarters are housed at the 2nd floor of the PIA building along Visayas Avenue, Quezon City. PNA's website address is http://www.pna.gov.ph

It has been 35 years since PNA was launched in an era when newswire operations relied mainly on teletype machines and typewriters. PNA has steadily paced the highly competitive and changing arena of Philippine journalism; it is now slowly but surely coming to par with the challenges posed by the globalization of media communications. This has deeply shaped modern journalism and the news media organizations that have been instrumental in creating the very conditions that made globalization a reality.

PNA has evolved today as an Internet-based news service agency that caters to the global demand for news and information to its subscribers, readers and a host of other clients. PNA's mission is spelled out clearly: to provide the government, the Presidency, the public, as well as its media and non-media clients, both local and foreign based, sober, factual, impartial and objective news and information. PNA provides news 24/7, including photos of major events, feature stories, sports news and events, local and global opinions, general information, as well as global news and feature stories. PNA employs about a hundred journalists and stringers across the country, with several foreign-based correspondents.

PNA beat reporters and stringers are deployed practically in every government office and agency, including the main offices and camps of police and security forces, to provide news 24/7 for local, regional and global subscribers and readers. PNA likewise maintains active news exchanges with news agencies of ASEAN member-countries and the Organization of Asia-Pacific News Agencies (OANA).

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Latest Press Release
President Benigno S. Aquino III, assisted by Presidential Communications Operations Office (PCOO) Secretary Herminio B. Coloma Jr. and Philippine Information Agency (PIA) Director-General Atty. Jose Fabia, presents the Plaque of Recognition to PIA Outstanding Past Director-General William Esposo during PIA’s 25th anniversary at its main office on Quezon City on Wednesday (Feb. 1, 2012). (PNA)

President Benigno S. Aquino III, assisted by Presidential Communications Operations Office (PCOO) Secretary Herminio B. Coloma Jr. and Philippine Information Agency (PIA) Director-General Atty. Jose Fabia, presents the Plaque of Recognition to PIA Outstanding Past Director-General William Esposo during PIA’s 25th anniversary at its main office on Quezon City on Wednesday (Feb. 1, 2012). (PNA)

 PHL, WB sign $ 50-M loan agreement

MANILA, (PNA) -- The Department of Finance (DOF), Development Bank of the Philippines (DBP) and the World Bank on Thursday signed a tripartite loan agreement for a project designed to promote investments in local public infrastructure and services.

Approved by the World Bank Board of Executive Directors on December 1, 2011, this new $ 50-million financing will fund the Regional Infrastructure for Growth Project (RIGP) designed to stimulate physical and economic integration among a number of local government units (LGUs) as well as support post-disaster initiatives through improved access to finance.

According to DBP President and Chief Executive Officer Francisco F. Del Rosario Jr., RIGP builds on DBP’s existing support for improved physical and economic integration through inter-modal systems—such as the roll-on-roll-off (RORO) network under the DBP’s CRUISE (Connecting Rural Urban Intermodal Systems Efficiently) Program —by encouraging LGUs to work with each other and with private sector partners to improve connectivity and access to better infrastructure development and services, especially to poor communities.

“RIGP will finance a wide array of local public infrastructure and services that will promote physical and economic integration among LGUs. Priority projects include those that are identified in LGUs’ local development and physical framework plans,” Del Rosario said.

DBP will on-lend the $ 50 million loan to LGUs, public utilities or eligible local government-owned and controlled corporations, and private sector enterprises in developing local infrastructure as well as providing services through public-private partnerships (PPP).

In addition to offering direct retail sub-loans, DBP will also channel financing through wholesale loans to eligible private financial institutions (PFIs) for on-lending to local service providers.

Signing for the Government of the Philippines, DOF Secretary Cesar V. Purisima said “RIGP is also a timely response to the needs of LGUs in calamity stricken areas, such as those damaged recently by typhoon Sendong, for which I congratulate DBP, the World Bank and all those who collaboratively worked to make the facility available at the time when it is needed most.”

“RIGP’s objectives are aligned with the general thrusts of the Government to support LGUs and communities in many parts of the country that continuously face development challenges such as inadequate infrastructure and basic services,” said Purisima.

Among the eligible projects for financing include disaster risk mitigation (sea walls, flood protection, slope protection); environmental infrastructure (water supply, solid waste facilities, drainage systems); agriculture support systems (irrigation, small impounding reservoirs, supply chain infrastructure); social (school buildings, hospitals, health centers); transport (provincial and local roads, local ports, public transport facilities); and tourism support (eco-parks, convention centers, heritage sites, resorts).

During the signing of the loan agreement, Motoo Konishi, the newly designated World Bank Country Director for the Philippines, reiterated the World Bank’s commitment to support inclusive growth in the Philippines through its various financing and technical assistance programs.

“RIGP is a product of the continuing partnership between and among the World Bank, the Philippine Government and DBP in supporting local government units as they fulfill and balance their mandate as local development managers and providers of basic services,” said Konishi.

“The World Bank recognizes the potential impact of RIGP on growth and economic development as it helps the provision of facilities that will promote accessibility, connectivity, economic opportunities and job creation, especially for lower income LGUs,” Konishi added. (PNA)