devinitorg/iati-policy-markers huggingface dataset:
DARP Philippine Asset Growth One The proposal is to invest equity and debt, along with strategic partners, to create a platform to acquire and service a distressed asset (DA) portfolio of Rizal Commercial Banking Corporation (RCBC), the 5th largest bank in the Philippines in terms of asset size.  Through the proposed project, IFC will play a critical role to (i) help re-activate the DA market in the Philippines; (ii) mobilize funding from the private sector, helping address the limited capital currently available in the current local NPL market; and (iii) provide a major bank with an attractive mechanism for NPL resolution. (i) Market development: The successful implementation of the project could spark the interest of other market players and evolve into a common practice.  Furthermore, this could become an important stabilization mechanism for the Philippine financial sector and help IFC to address the current NPLs issues of the bank; (ii) Best practices: As part of the project IFC would promote international insolvency standards, creditors'' rights and collection practices for the resolution of the distressed assets; and (iii) Market transparency: Through this project, IFC would be helping to assign a market value to a NPL portfolio.  If successful, the proposed project has the potential to be replicated by other entities in Asia.
DCM BPI Project International Finance Corporation (IFC) is considering an investment in a green bond (Bond) of up to US$250 million to be issued by Bank of the Philippine Islands (BPI or the Bank). The Bond is aligned with International Capital Market Associations (ICMA) Green Bond Principles (GBP). This issuance will be the third green bond to be issued by BPI. The expected project-level impact involves an increase in access to long-term finance for climate finance. IFC anticipates that the project will promote sustainability in the climate finance market in the Philippines through the demonstration, replication and capacity building channels.
BOP Esquire The proposed investment is a senior loan of up to US$20 million to Esquire Financing Inc. (EFI), the fourth largest non-bank financing institution in the country and a market leader in the unsecured small- and medium- enterprise (SME) loan segment. The Project is expected to support the growth of the Companys loan portfolio and improve access to finance for SMEs during and post the COVID-19 pandemic. Proceeds of IFCs loan to EFI will be 100% earmarked to women-owned SMEs (WSME). Moreover, the Project is expected to be consecutively supported by the Women Entrepreneurs Opportunity Facility (WEOF) and the Women Entrepreneurs Finance Initiative (We-Fi) as described in the Blended Finance Section. Project outcome: By partnering with an NBFI focused on unsecured business loans to SMEs, the Project will contribute towards narrowing the financing gap in the country by providing additional loans to WSMEs during the tenor of the facility. This is expected to increase economic activity and job creation in the Philippines, thereby expediting post-crisis recovery. 

Market-level outcome: As macroeconomic instability and uncertainty on long-term risks has led to increased difficulties in accessing medium-term funds needed to support the recovery and growth of lending operations, IFC anticipates that project will support resilience amongst microfinance and Base of the Pyramid (BOP) finance providers and catalyze investor response.
DCM UBP Social Bond The proposed project comprises an IFC investment of up to US$150 million for up to seven years in a COVID response social bond to be issued by the Union Bank of the Philippines.  The investment is expected to support the Bank in growing its micro, small and medium enterprise (MSME) portfolio including SMEs in the supply chain finance and those impacted by disasters with significant consequences on public health, infrastructure or the economy such as but not limited to COVID-19. This will be the first Social Bond to be issued by the Bank under its recently issued Sustainable Finance Framework. (i) Project Outcome: The Project will contribute to improved access to finance for MSMEs. Under the Bank's Sustainable Financing Framework, the use of proceeds for the issuance will be directed to MSMEs who have been hit by natural disasters, such as the COVID-19 pandemic. 
(ii) Market creation: IFC's engagement with UnionBank will deepen capital markets for sustainability-linked thematic bonds and increase available funding for MSMEs. The Project is expected to promote a replicable instrument to raise funds for underserved segments such as MSMEs through issuance of a Social Bond in the Philippines, and demonstrate the feasibility of banks to raise funding through issuance of a replicable capital market instrument in a manner that meets international standards.
Asian Hospital 2 Asian Hospital, Inc., (AHI or the company) an existing IFC client, was founded in December 1994 with the strategy of developing the first major private hospital with tertiary care facilities in the southern Luzon corridor of metropolitan Manila.  Due to strong demand, the Hospital has reached or is quickly reaching its effective capacity in several service areas.  To address this it is planning to enhance its operations and expand its outpatient and inpatient facilities.  As well, it plans to normalize its debt structure through the refinancing of the majority of its existing debt.  The project cost is estimated at PHP3,056 million.    IFC has been invited by Asian Hospital to be the lead lender and arranger for the project and provide a peso denominated A Loan of up to PHP1,260 million.  Bumrungrad International Ltd. will participate in the equity financing for the project. AHIs expansion and upgraded facilities will improve the overall level of healthcare being offered in metro Manila.  Increased private sector participation in the Philippines health sector is expected to improve service quality, efficiency and free up the Governments limited resources for public health care programs.    Specifically, the project will help:  - Expand AHIs capacity to better serve the local population:   AHI will continue to grow in patient volume with the expected population growth of 7% per annum in the South of Metro Manila.  With the emphasis on the working age group outpatient services are expected to increase at a pace greater than 10% and inpatient service to increase at about 4% per year.  - Increasing standards for delivery of health services in the Philippines:   As one of the leading hospitals in the country, AHI is constantly introducing new practices and procedures which the rest of the market is frequently compelled to follow.  Based on discussions with the DOH and others, Asian Hospital has already had an evident and positive impact on both public and private hospitals by causing them to improve facilities and services to keep up with AHI.  - Assimilate and disseminate best practices in delivery of health services from a leading global healthcare provider:    This project is a South-South investment and includes significant South-South knowledge transfer from a leading international healthcare provider, Bumrungrad Hospital (BH) of Thailand.   - Attractive employment alternative/stem brain drain:    There is a large out-migration of health professionals from the Philippines.  This expansion project will help to retain talent in-country by providing opportunities to work in a world-class health care environment.  Currently AHI has over 1,000 registered doctors and 900 employed staff.  This will increase with the expansion.
PLGIC Project The project entails an IFC quasi-equity and equity investment of up to $8.5 million in Paramount Life and General Insurance Company (the company or PLGIC), a composite insurance company in the Philippines.  The company provides life and general insurance policies to corporates and individuals in the Philippines.  It was established in May 1950, is headquartered in Manila, and has 27 branches in Metro Manila and outer provinces.  IFCs investment, which will be made in different phases, will help this median-sized, non-captive insurance company to make strategic acquisitions, to stimulate and consolidate the industry.
Filinvest Alabang Inc. The project is phase I of the Northgate Cyberzone Information Technology Park (Northgate or the project), an expansion of FAI''s existing operations.  As the information technology and property development subsidiary of FDC, FAI was established to develop Filinvest Corporate City.  FCC includes: (1) Festival Supermall, a well-established regional shopping center for southern Metro Manila completed in May 1998 with over 400 retail locators; (2) Northgate Cyberzone Information Technology Park; (3) Asian Hospital, a 500 bed acute care tertiary hospital and a 350 room medical office building (IFC investment); (4) Spectrum Business District  high rise offices and residential towers; (5) Civic Plaza  national and municipal government offices; and (6) Market Square, a multi-vehicular transportation terminal and wet & dry market.  Northgate is located on a 18.7 ha area in FCC and is master-planned to provide a high tech working environment complemented by comprehensive infrastructure.  Phase I of the development, covering 2.7 ha, includes: (i) 5 information technology (IT) buildings; (ii)  IT infrastructure; and (iii) the Convergence Hall providing a venue for interaction between IT professionals.  The Convergence Hall also houses an IT college of De LaSalle University which is not part of the project and will be financed by the Filinvest Corporate City Foundation.  Total leasable area of the 5 buildings is about 45,000 sqm available for 35 - 50 locators.     This is the first IFC funded project supporting information technology driven infrastructure in emerging economies.    IFCs Role:    Providing long-term financing which is otherwise not available   Support of the IT sector      Development Impact:    Reduced barriers to entry for IT companies   Enhancement of export potential   Foreign direct investment and skills development
MWC II Project In 1997, Manila Water Company, Inc. (MWCI) won a competitive tender to operate the Metro Manila East water supply and wastewater service zone under a 25-year concession agreement. It inherited facilities that require significant rehabilitation and to date MWCI has spent approximately $70 million for its own capital expenditures and close to $123 million in projects funded through multilateral bank loans to the conceding authority, Metropolitan Waterworks and Sewerage System (MWSS).  In 2003, IFC provided a loan in support of MWCIs operations.  IFC is now considering extending a second loan to help to support MWCIs expenditure program through 2007. These expenditures will include the following components:     -  new raw water sources development;  -  service expansion to east and southeast areas of the concession;  -  network distribution improvement;  -  other pipe extension and improvement projects;  -  water supply facilities;  -  non-revenue water (NRW) reduction programs;  -  sewerage & sanitation services; and  -  payment of concession fees to MWSS.  IFC is also considering an equity investment in MWCI in preparation for its planned flotation of shares on the Philippines Stock Exchange as early as 2005.
DARP_Planters The project entails an investment in equity and debt, along with strategic partners, to create a platform to acquire and service a Distressed Asset (DA) portfolio of Planters Development Bank (Plantersbank or the Bank). The portfolio will be acquired through a to-be-formed Special Purpose Vehicle (SPV).  The DA portfolio contains non-perfoming loans (NPL) and real and other properties owned or acquired (ROPOAs) with a face value of around US$71 million.  Through the proposed project, IFC can play a critical role to help re-activate the DA market in the Philippines, mobilize funding from the private sector to help address the limited capital currently available in the local NPL market, and provide Plantersbank with a mechanism for NPL resolution which will allow it to increase lending to its customers.    The proposed project is part of IFCs Debt and Asset Recovery Program (DARP), a crisis response initiative approved by the Board in August 2009, which focuses on DAs, roll-over risk and restructurings.  DARPs strategy is to revitalize financial systems through investments in DA and servicing companies / platforms. (i) Market development: The successful implementation of the project could spark the interest of other market players and evolve into a common practice.  Furthermore, this could become an important stabilization mechanism for the Philippine financial sector and help IFC to address the current NPLs issues of its existing clients;  (ii) Best practices: As part of the project IFC would promote international insolvency standards, creditors'' rights and collection practices for the resolution of the distressed assets; and (iii) Replication: Through this project, IFC would be helping to assign a market value to a NPL portfolio.  If successful, the proposed project has the potential to be replicated by other entities in the EAP region.
First Circle The proposed project is an equity investment by IFC of up to US$7 million in Carabao Capital Global Pte Ltd., currently operating in the Philippines under the brand name First Circle (the Company). With data and technological edge as the cornerstone of First Circle's strategy, the Company is providing unsecured credit lines to SMEs with competitive rates, flexible repayment options, and the convenience of fast digital operations, in a country that has one of the lowest SME credit penetrations in South-East Asia. IFC anticipates that the project will lead to increased access to finance for MSME stakeholders by financing the growth of First Circles operations and loan book, as the Company specifically provides loans and banking solutions for MSME clients with majority of its clients being small and medium enterprises. Additionally, IFC expects the Project to promote systemic changes in the MSME finance market in the Philippines. By providing loans to the underserved MSME market at scale, First Circle will demonstrate the viability of lending to these smaller clients to a broader market, opening up the MSME lending market to other players, whether traditional banks or non-traditional technology-based lenders.
NAVEGAR I LP Navegar I L.P. (Navegar or the Fund), a Cayman Islands exempted limited partnership, is a private equity fund seeking $100 million in capital commitments to build a port­folio of equity and equity-linked investments in middle market, growth-oriented companies operated in the Philippines. The Fund would help its portfolio companies create jobs, which potentially cover the rural areas in the Philippines.  The Fund would help private sector development through supporting growth and operational improvement of its portfolio companies.  The Project would support private equity investments in the Fund's target country and thus it would help develop the financial markets in the Philippines.
Salmon Project The proposed project is an equity investment by IFC of up to US$7 million in Fintech Holdings Ltd, currently operating three Philippines subsidiaries under the brand name Salmon (the Company). With a focus on providing accessible and convenient financial services, Salmon leverages advanced technology and data-driven strategies to deliver a seamless user experience. The Company's primary goal is to enhance financial inclusion by offering a wide range of credit and deposit products, which will include  cash loans, revolving credit lines, point-of-sale financing, credit cards and debit cards. IFC anticipates that the Project will provide access to credit and deposit accounts to individuals underserved by incumbent financial institutions. The Project will support Salmon's efforts to grow its customer base, including by expanding and diversifying its customer acquisition channels, and also to support Salmon in expanding beyond its credit offerings and develop a deposit and transaction account product. IFC also expects that the investment will promote competitiveness by demonstrating the scalability of a credit-first, data-centric specialized business model capable of expanding the scope of bankable customers in the consumer finance space. This is expected to drive incumbent financial institutions and other digital lenders to compete on product and process innovation.
DCM BDO Blue Bond International Finance Corporation (IFC) is considering an investment in a blue bond (Bond) of up to US$100 million to be issued by BDO Unibank, Inc. (BDO or the Bank). The Bond will be issued following the International Green Bond Principles and IFCs Blue Finance Guidelines. This issuance will be the first blue bond to be issued by BDO and will also be the first blue bond issuance in the Philippines. Increased access to finance for blue projects: The most significant expected project level impact will be derived from an increase in access to long term finance for blue financing projects in the Philippines.

Sustainability: Beyond the Project, IFC anticipates that the Project will contribute to market creation through sustainability via innovation, demonstration/replication, and capacity building channels.
RCBC Bond Project Given positive outlook on the Philippine economy over the medium term and its need for long term funding, Rizal Commercial Banking Corporation (RCBC or the Bank) is planning to raise a bond with tenor of up to 10 years for up to USD300 million. Since this is RCBCs first long-term USD bond issuance to the market particularly in the 7 and 10 year tenors, IFC is proposing to support the issuance through being an anchor investor for up to USD75 million. The most significant impacts of the proposed investment are expected to:  1.	Help broaden and deepen the bond markets through the issuance of a longer tenor USD corporate bond, which would also help build a benchmark for issuances by Philippine commercial banks vs. government paper;   2.	Support RCBC''s effort in expanding its lending to infrastructure projects by providing funds of longer maturity to match the tenor of the loans; and   3.	To continue to support RCBC''s strategy to increase financial inclusion particularly to underserved sectors such as SMEs and the rural population.
Software Ventures Int'l., Inc. SVI is a leading IT services company in the Philippines.  The company''s core business has historically been offshore systems development and maintenance targeting US companies, following the successful model of Indian IT services companies such as Infosys, Satyam and Wipro.  Recently the company has expanded into offshore IT-enabled services such as call center services (through the acquisition of a US based company, TCI, in October 2000) and Business Processes Outsourcing (or, BPO), which include activities such as document management, billing, transcription, etc.  Though most of SVI''s revenue comes from exports to the US market, in the late 1990s SVI helped develop the systems and software for the billing and collection services of the National Home Mortgage Finance Corporation (NHMFC) and developed software to help the Philippine Department of Budget and Management to track government expenditures.      The purpose of the project is to  (i) restructure expensive short-term debt; and (ii) expand the company''s operations and finance general working capital needs.      By helping to finance this project, IFC would help to provide long-term financing and equity capital to a leading local IT company.   Long term capital is not easily available from local financial institutions, especially for companies in the IT services business.  IFC''s presence would also attract other investors in current and future rounds.  IFC''s participation is also seen as lending the company very high credibility in the local market, particularly with public sector clients.    In addition, the project would help increase the export of IT services which would help the country to build on its strengths and diversify the country''s export base.  It would also help enhance gender equality as the call centers employ a high number of women.
Ambuklao-Binga The Ambuklao and Binga hydroelectric power plants are being privatized as a package through an international tender process, as part of the privatization program under a comprehensive sector reform law, the Electric Power Industry Reform Act (EPIRA).  At privatization, expected to occur in June 2008, the plants will be owned by SN Aboitiz Power Benguet, Inc. (SNAPB), a joint-venture between SN Power Invest (SN Power) of Norway and Aboitiz Equity Venture (AEV) of the Philippines.  IFCs proposed investment, a loan, will be in parallel with additional financing from Nordic Investment Bank (NIB) and local banks and will support the privatization.  The proposed IFC investment will partly finance the privatization and rehabilitation of the 75 MW Ambuklao hydroelectric power plant and the 100 MW Binga hydroelectric power plant, currently owned by National Power Corporation (NPC).  The rehabilitation will re-commission the Ambuklao plant, which has been shut down due to silt problems, upgrade the Binga plant, and increase the combined capacity by 50 MW in total (30 MW for Ambuklao and 20 MW for Binga) from 175 MW to 225 MW.  They will operate as peaking plants, supplying power to the Luzon grid for about five hours daily.  There are no electric transmission system constraints with regard to the expected higher generation levels.  The project company, SNAPB, is expected to take over the hydropower facilities in June 2008, and will put in place new management procedures, address technical issues such as sedimentation and dam safety and implement the rehabilitation of both plants.  SNAPB will also enter into a separate agreement with the Government, for those facilities that will remain under public ownership, to cover the operation and maintenance of the dams and appurtenant structures, formulation of operations manuals, formation of an oversight committee, and maintaining the integrity of the water levels in the reservoirs.  Responsibility for the watershed management will remain with the Government. The project will be the fourth power generation privatization project with foreign participation.  It has a high development impact, as it is expected to:  - reinvigorate foreign investors interest in the countrys power privatization program after several years of inertia,  - continue to support power sector reform by restoring market confidence in the WESM mechanism and the institutional capacity of the Philippines power sector governance in general;  - provide proof of concept and demonstration effect of a successful privatization of a large scale merchant hydro power project to other East Asian countries who hesitate to embark in similar sector reforms;  - support the improvement in the operations and the potential capacity expansion of an environmentally friendly source of energy in the country; and - contribute to government efforts to address fiscal problems through prepayment of deferred payment facility.