Approved under Monetary Board Resolution 296 dated April 8, 2026, banks are allowed to give clients more time to pay their loans, including up to six months of grace period for most borrowers and up to one year for farmers.

This means affected individuals and businesses can delay payments without being immediately penalized.

The BSP also said these loans will not automatically be classified as “bad loans” for up to one year, giving both borrowers and banks room to recover without hurting credit standing.

In addition, the central bank is urging banks and e-wallet providers to temporarily waive fees for online transfers, including InstaPay and PESONet, to help people save on costs.

“Lower-cost digital transactions may help consumers and businesses by reducing the need for transportation to banks and e-money service providers,” the BSP said in a news release.

The relief measures can be used for up to one year from the government’s declaration of a national energy emergency on March 24, which was triggered by global supply disruptions linked to tensions in the Middle East.

The BSP said the goal is to help businesses stay afloat and keep lending flowing despite rising costs.

“The BSP remains committed to promoting financial stability, financial consumer protection, and overall financial health amid the energy emergency,” it added.

However, banks are expected to apply the relief only to borrowers genuinely affected by higher energy costs, ensuring responsible lending practices are maintained.

In a news release, the DOF said the performance marks one of the Bureau’s strongest quarters on record, underscoring sustained gains from reforms and tighter enforcement.

Finance Secretary Frederick D. Go commended the agency, citing improved governance and accountability as key drivers of the result.

“The Bureau of Customs’ highest-ever first-quarter collection demonstrates that our commitment to reforms, transparency, and accountability is delivering real results. These gains will directly support the government’s priority programs and benefit the Filipino people,” Secretary Go said.

The BOC attributed the outcome to coordinated efforts across its ports and subports nationwide, which ensured the efficient and lawful collection of duties and taxes.

A major boost came from the agency’s intensified campaign against illegal trade. Revenues were reinforced by the public auction of forfeited goods, including smuggled high-end vehicles, effectively converting illicit assets into public funds.

Post-clearance audit operations were also strengthened, improving compliance and ensuring accurate payment of duties and taxes.

The Bureau noted that the first-quarter performance is second only to the record collections posted from July to September 2025 under the current leadership.

The BOC said the results align with the directive of President Ferdinand R. Marcos Jr. and the fiscal strategy of the Department of Finance to strengthen revenue generation while maintaining transparency and accountability.

“Every peso we collect helps fund essential services, advance national development, and build a better future for every Filipino,” Secretary Frederick Go added.

“In times of global uncertainty, close collaboration among ASEAN+3 economies is more crucial than ever. By anticipating risks, sharing insights, and coordinating policy responses, member economies can navigate these challenges together,” the DOF said in a news release.

ASEAN+3 refers to the cooperation framework among the Association of Southeast Asian Nations (ASEAN) Member Countries and the three East Asian countries, namely China, Japan, and South Korea. Established in 1997, ASEAN+3 aims to strengthen regional integration and build an East Asian Community.

The ASEAN+3 Finance Process serves as a platform for member economies to discuss financial and macroeconomic developments and address regional risks and challenges, the DOF said.

While each economy manages its own domestic pressures, a united regional approach is key to building resilience and safeguarding stability against external shocks.

In line with this, the DOF pushed to advance regional disaster risk financing in response to climate-related challenges.

Member economies expressed support for continued collaboration and for creating a roadmap to boost regional resilience and preparedness, which will be further discussed at the ASEAN+3 Finance and Central Bank Deputies’ Meeting (AFCDM+3) in April 2026.

This vision of support was evident at the second Task Force Meeting held from March 3-4, 2026, in Osaka, Japan, which was co-chaired by the DOF and the Bangko Sentral ng Pilipinas (BSP), together with the Japan Ministry of Finance (JMOF) and the Bank of Japan (BOJ).

International Finance Group (IFG) Assistant Secretary Donalyn U. Minimo, who co-chaired the meeting, said that recent disruptions in the Strait of Hormuz and the resulting volatility in oil and LNG prices have direct impacts on fiscal space, economic growth, and livelihoods.

Member economies likewise supported ongoing discussions on the DOF-championed Sovereign Asset and Fiscal Empowerment (SAFE) Facility, which embeds disaster insurance directly into development projects financed by bilateral and multilateral partners.

The DOF also continued to advance the Philippines- and Japan-led ASEAN+3 Fiscal Exchange, a platform for Finance Ministries to share best practices and insights, strengthening collective regional resilience.

The Philippines is Chair of the 2026 ASEAN, with the theme “Navigating Our Future, Together.”

The Philippines’ first Growth and Jobs Development Policy Loan (G&J DPL1), backed by the World Bank-International Bank for Reconstruction and Development (WB-IBRD), is a policy-based budget support for the Philippine government’s reform agenda.

This is the first WB financing to be secured under Finance Secretary Frederick D. Go’s leadership, which aims to strengthen fiscal sustainability and accelerate economic recovery and job creation.

“This financing from the World Bank is a strong vote of confidence in the Philippines’ growth path. Part of what makes this financing so important is our firm commitment to fiscal discipline, ensuring that every peso is spent wisely to create jobs, support businesses, and strengthen public services for the benefit of all Filipinos,” Secretary Go said.

“I thank the World Bank for their continued partnership in helping the Philippines achieve its growth and development goals,” he added.

The JPY 123.088 billion (USD 800 million) DPL will focus on three pillars.

First is strengthening fiscal management by improving resource mobilization and spending wisely to ensure that funds are directed towards priority investments in infrastructure and human capital.

Second is enhancing opportunities for private investment and innovation through policies that streamline ease of doing business and allow them to grow and offer quality jobs.

Third is building labor force capabilities by improving education to technical and vocational training so workers have the skills to access higher-quality jobs and businesses can find the talent they need to expand.

The WB-IBRD is providing the G&J DPL1 in recognition of the Philippine government’s accomplishments in policy reform and its ongoing commitment to deliver results.

“The World Bank is proud to continue supporting the Philippines’ priorities — turning strong growth into more and better-paying jobs. By strengthening fiscal foundations, improving the business climate, and investing in human capital, this effort will unlock private investment and equip people with the skills they need to find jobs and thrive,” said Zafer Mustafaoğlu, World Bank Division Director for the Philippines, Malaysia, and Brunei.

The WB-IBRD financing supports the Philippines government’s efforts to create jobs, boost growth, and strengthen public services.

To achieve this, the DOF is strengthening coordination between the Revenue Integrity Protection Service (RIPS) and the Revenue Operations Group (ROG), underscoring the DOF’s strict zero-tolerance policy on corruption.

“This collaboration is necessary to build a stronger, more transparent revenue system––one where corruption cannot thrive,” Finance Secretary Frederick D. Go said in a recent news release.

“Hindi natin hahayaang masayang ang bawat pisong pinaghirapan ng ating mga mamamayan. Kaya sisiguraduhin naming mas mabisa ang monitoring, mas mabilis ang pamamahagi ng impormasyon, at mas maayos ang pagpapatupad ng mga patakaran,” he added.

To drive this initiative forward, the DOF recently welcomed the appointment of Rolando T. Ligon Jr. as Undersecretary for the ROG and Supervising Undersecretary for the RIPS to oversee the coordinated operations of both offices.

The RIPS is the DOF’s anti-corruption arm mandated to prevent, detect, and investigate corrupt practices in revenue collection. The office conducts lifestyle checks and fact-finding investigations to ensure officials and employees do not acquire wealth beyond what their lawful income can justify.

Complementing the RIPS’ functions, the ROG oversees and supervises the operations of revenue-generating agencies, such as the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC), ensuring effective revenue administration.

As part of this strengthened collaboration, the RIPS and the ROG are closely monitoring examiners’ compliance with the BIR’s updated guidelines on the issuance of Letters of Authority (LOA) to improve transparency in the audit process and reduce opportunities for abuse, corruption, and revenue loss.

“Through vigilant monitoring, lifestyle checks, and coordinated action, we remain committed to ensuring that public funds are collected lawfully, efficiently, and with integrity for the benefit of the Filipino people,” Secretary Go said.

The event was organized by Manila Bookkeepers, in partnership with the Dutch Chamber of Commerce in the Philippines (DCCP) and the Board of Investments (BOI).

“This session is designed to help businesses move beyond compliance as a requirement, and instead use it as a tool for confidence, clarity, and sustainable growth, which opens many doors for bigger business opportunities in the Philippines,” organizers said.

Speakers included Atty. Bobby Fondevilla, Executive Director and Head of the BOI Investment Assistance Center; Michael Jaurigue, CPA, Director of Manila Bookkeepers; and Atty. Jose Calsas Jr., CPA, Vice President and Chief Financial Officer of D&V Philippines.

During the seminar, the Manila Bookkeepers experts emphasized the importance of reconciliation, proper documentation, and timely tax filing to avoid audit findings.

Mr. Jaurigue discussed the technical aspects of common audit risks and recommended best practices in reconciliation and record-keeping to strengthen tax compliance.

Atty. Calsas shared practical guidance for companies navigating tax compliance and highlighted how strong bookkeeping systems can help prevent costly disputes with tax authorities.

Meanwhile, Atty. Fondevilla highlighted the BOI’s role in supporting investors and businesses of all sizes through investment facilitation programs and regulatory reforms.

Under its “Regulatory Reforms and Investment Facilitation Incentives,” the BOI aims to “boost investments in industries and in the countryside, aiming for both job generation and balanced economic development.”

Fondevilla also introduced programs such as the Strategic Investor Aftercare Program (SIAP), Key Accounts Management System (KAMS), and BOI-LOKAL, which are designed to help businesses navigate regulatory requirements and grow their operations.

Experts said adopting an “always audit-ready” mindset, supported by strong bookkeeping and proactive compliance, can help companies avoid penalties while protecting their reputation and supporting long-term growth.

“I thank the World Bank for its continued support to the Philippines. These grants are vital for project development, and we will ensure they are finalized and signed without delay so the benefits reach our fellow countrymen as soon as possible,” Secretary Go said in a news release.

Through the World Bank’s Grant Facility for Project Preparation (GFPP), three new grants were approved this year to strengthen project preparation — ensuring sound technical, financial, environmental, and social foundations that minimize delays and accelerate project delivery.

Grants are financial assistance from development partners provided at no cost to the Philippine Government, fully funding critical preparatory work and enabling the government to preserve fiscal space while advancing priority projects.

Among the approved initiatives are the following:

1. Improving MSME Access to Finance and Resilience to Climate Shocks Project of the Department of Agriculture (DA). Supported by a US$1.21 million grant, the project will strengthen agricultural financing, modernize insurance systems, and improve rural development institutions. It is envisioned to help the DA address implementation risks early and boost productivity, increase rural incomes, create jobs, improve food security, and help communities better cope with climate-related shocks.

2. Philippines SME COMPETE Project of the Department of Trade and Industry (DTI). The project aims to enhance the local and global competitiveness of small and medium enterprises (SMEs), enabling them to scale up, access wider markets, and generate more employment. The US$1.21-million grant will support robust project design, strong environmental and social safeguards, and coordinated implementation.

3. Philippines Digital Infrastructure Project Scale-up (Phase II) of the Department of Information and Communications Technology (DICT). With US$1.71 million in grant support, the project will expand broadband connectivity in underserved areas, including Western Mindanao and the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). The funding will cover technical and economic feasibility studies, detailed engineering designs, stakeholder engagement, and institutional capacity building, among other critical preparatory activities.

Together, these GFPP-supported projects advance the Marcos, Jr. administration’s agenda of inclusive growth, climate resilience, and digital transformation — ensuring that strategic investments translate into real economic opportunities for Filipinos.

The partnership aims to help strengthen financial stability, sustainability, and resilience, according to a BSP news release dated February 12.

Under the MOA, the BSP will gain access to PhilSA’s satellite imagery and related datasets to help identify areas vulnerable to climate-related hazards and assess their potential impact on communities and economic activity. These insights can support monetary policy, financial supervision, and sustainability initiatives.

According to BSP Assistant Governor Pia Bernadette R. Tayag, “The MOA reflects how we view resilience-building in the financial system. It requires good governance, strong coordination, and better data — supported by technology that helps institutions act earlier and smarter. This innovation improves preparedness across the economy and the financial sector

Meanwhile, PhilSA Director General Dr. Gay Jane P. Perez underscored that “space science and banking may appear to operate in different domains, yet both are ultimately concerned with stability.” She said the MOA highlights BSP’s and PhilSA’s shared commitment to managing climate risks.

Beyond data sharing, BSP and PhilSA will also collaborate on developing tools, conducting research, and strengthening capacity to promote the responsible use of satellite data and geospatial analytics in support of their respective mandates.

Geospatial analytics refers to the use of location-based data to better understand conditions on the ground and support more informed decision-making.

The recognition places the Ayala-led bank in elite regional company, alongside financial powerhouses from Singapore and Australia, underscoring how a homegrown institution is holding its own in an increasingly competitive Asia-Pacific business landscape.

Banking and financial services dominated the 2026 ranking, with five banks making the Top 10. The list is led by Singapore’s DBS Bank and Australia’s Commonwealth Bank, reflecting the sector’s continued strength amid a stabilizing regional economy.

The ranking evaluated companies across three key metrics: employee satisfaction, revenue growth, and environmental, social, and governance (ESG) performance — areas where the Philippine bank scored strongly enough to earn a place among Asia-Pacific’s most admired enterprises.

The broader backdrop to the ranking is a region learning to navigate global uncertainty. TIME noted that anxiety gripped markets when Donald Trump returned to the White House in 2025, triggering tariff tensions and trade disruptions. But by year’s end, Asia-Pacific economies had adjusted, diversifying their strategies and becoming less dependent on the United States.

BPI’s entry into the Top 10 signals more than a single corporate achievement. It reflects how a Philippine firm can compete on the same footing as the region’s biggest players when measured by workforce satisfaction, financial performance, and sustainability standards.

At a time when regional companies are recalibrating for a new economic era, the bank’s recognition suggests the Philippines is not just participating in Asia-Pacific growth, it is producing institutions capable of leading it.

The launch, held during the UK–Southeast Asia Tech Week 2026 on February 9–10, highlighted the Philippines’ rising role in the region’s digital transformation and marked a new strategic partnership between the British Embassy in Manila and the AI and Analytics Association of the Philippines.

The Lookbook is designed as a tool for policymakers, companies, and institutions seeking solutions to support ASEAN’s push toward an integrated, digital-first economy — a shift widely seen as one of the region’s most significant economic opportunities as cross-border trade increasingly relies on data, analytics, and secure digital infrastructure.

Alongside the launch, the new partnership with the AI and Analytics Association of the Philippines aims to promote the responsible, inclusive, and trustworthy adoption of artificial intelligence and analytics. The collaboration will provide a platform for sharing best practices and strengthening innovation ecosystems between the two countries.

Rhiannon Harries, Deputy Trade Commissioner for Asia Pacific (Southeast Asia), underscored the strategic importance of digital cooperation in the region.

“Southeast Asia has a bold vision for a digital and data-driven economy, and the UK is well-placed to support this. The 10 UK companies participating in this year’s Tech Week represent our $1.2 trillion technology sector – they provide the compute, insight, and security needed to support the region’s digital ambitions. We are excited to work more closely with the Philippines as ASEAN Chair in the UK’s 5th year of being Dialogue Partner.”

British Ambassador to the Philippines Sarah Hulton OBE emphasized that practical collaboration is at the heart of the initiative.

“UK-Southeast Asia Tech week puts practical collaboration at the center, linking the region’s priorities in digital innovation and financial services with proven UK expertise.”

“Here in the Philippines, the growing footprint of UK tech firms, from digital identity to cybersecurity capability, shows how partnerships deliver outcomes that strengthen both our country’s digital economies. We look forward to working closer together especially as we celebrate 80 years of UK-Philippines diplomatic relations and the UK’s 5th year as an ASEAN Dialogue Partner,” she added.

The two-day Tech Week gathering brought a delegation of 10 UK companies specializing in artificial intelligence, data centers, and cybersecurity to Manila, where they met with Philippine tech firms, policymakers, and investors to explore collaboration.

The event featured a technology showcase led by companies such as Arup, iProov, and UnionDigital Bank, demonstrating innovations ranging from cybersecurity solutions to digital twins. Panel discussions on artificial intelligence and cybersecurity explored emerging threats, trends, and the growing need for cross-border cooperation in protecting digital systems.

Minette Navarrete, Managing Partner and President of Kickstart Ventures, highlighted the importance of collaboration in navigating today’s rapidly evolving global environment.

“The antidote to an increasingly VUCA (volatile, uncertain, complex, and ambiguous) and BANI (brittle, anxious, non-linear, and incomprehensible) world is partnerships that are BRAVE–Borderless, Relational, Adaptable, Values-aligned, and deeply rooted in strong Ecosystems,” she said.

The UK and the Philippines already maintain a growing network of technology collaborations. UK firm iProov is working with UnionDigital Bank to strengthen digital trust and security in financial services, while CyberQ Group has partnered with a Philippine technology solutions provider to expand cybersecurity capabilities.

In the fintech space, UK unicorns Wise and Revolut are expanding their presence in the country, with Revolut opening a Global Tech Hub in the Philippines. Meanwhile, the Philippine Space Agency is working with Surrey Satellite Technology Ltd on the Multispectral Unit for Land Assessment (MULA) satellite, designed to support agriculture monitoring, disaster response, and maritime tracking.

Collectively, the UK companies participating in Tech Week employ more than 30,000 people worldwide and represent a combined valuation exceeding £100 billion, reflecting the scale of the UK’s technology sector engagement with the region.

UK–Southeast Asia Tech Week is the UK Government’s flagship science and innovation event, with this year’s program spanning Singapore, Manila, and Kuala Lumpur. For the Philippines, the launch of the TradeTech Lookbook and the new AI partnership signal a deeper alignment with global digital trends, at a time when regional economies are racing to build more secure, data-driven, and interconnected trade systems.