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PDIC Remits ₱107.23 Billion to Fund Government Projects

by Celia

The Philippine Deposit Insurance Corporation (PDIC) has remitted ₱107.23 billion (approximately $1.83 billion) to the Bureau of the Treasury (BTr), contributing to the financing of critical national government projects while ensuring the stability of the Deposit Insurance Fund (DIF).

This transfer is in compliance with the General Appropriations Act of 2024 and follows the guidance of the Office of the Government Corporate Counsel (OGCC).

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PDIC President Roberto B. Tan reassured the public that the DIF remains robust enough to address potential risks within the banking system and meet insurance obligations as required. He emphasized that the fund continues to be maintained at the target level set by the Board of Directors, in line with international best practices.

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The remitted funds will support key infrastructure and social programs, including disaster-related infrastructure, rural electrification through solar power, and several international projects such as the Panay-Guimaras-Negros Island Bridges, the Metro Manila Subway Project, and the North-South Commuter Railway System.

These projects are expected to stimulate economic activity, potentially boosting bank deposits and fostering growth within the financial sector.

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