Philippine Deposit Insurance remits $2b to fund gov’t projects

The Deposit Insurance Fund is kept within the target level established by the board.

The Philippine Deposit Insurance Corporation (PDIC) has remitted $1.83b (₱107.23b) to the Bureau of the Treasury (BTr), contributing to the funding of national government projects whilst maintaining the soundness of the Deposit Insurance Fund (DIF). 

The remittance complies with the General Appropriations Act of 2024 and aligns with guidance from the Office of the Government Corporate Counsel (OGCC).

PDIC President Roberto B. Tan assured the public that the DIF remains sufficient to address potential risks in the banking system and to fulfil insurance obligations when necessary. 

He emphasised that the DIF is maintained within the target level established by the Board of Directors, following international best practices.

The funds will support major infrastructure and social programmes, including disaster-related infrastructure projects, rural electrification through photovoltaic systems, and several foreign-assisted initiatives such as the Panay-Guimaras-Negros Island Bridges, the

Metro Manila Subway Project, and the North-South Commuter Railway System. 
These efforts are expected to spur economic activity, which could lead to increased bank deposits and growth in the financial sector.