The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) approved $4.89 billion worth of proposed public sector foreign borrowings in the second quarter of the year, up by $0.99 billion or 25.38 percent from $3.90 billion in the same period last year.

The approved foreign borrowings have medium- to long-term maturities. These consist of eight (8) project loans worth $4.14 billion and three program loans amounting to $0.75 billion.

The loans are meant to fund projects and programs on road and rail transport, flood control management, climate resilience, health services, and civil service modernization.

Approved public sector foreign borrowings were recorded at $11.18 billion in the first half of the year and at $13.68 billion for full year 2024. Bangko Sentral ng Pilipinas