NEWS IN BRIEF; P/$ Rate Closes at P54.18 to $1

The peso rate closed slightly higher at P54.18 to the US dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines from P54.19 the previous day. The weighted average rate appreciated to P54.143 from P54.208. Total volume amounted to $307.87 million.

DSWD gets $2-M WB grant

The Department of Social Welfare and Development (DSWD) has secured a US$2 million grant from the World Bank (WB) to broaden the participation of poor and vulnerable groups. The WB extended the grant to DSWD for its Kapitbisig Laban Sa Kahirapan-Comprehensive and Integrated Delivery of Social Services Project (KALAHI-CIDSS). The grant, "Empowering Poor and Vulnerable Groups to Participate in the National Anti-Poverty Program," is funded from the Japan Social Development Fund (JSDF) administered by the World Bank. It aims to achieve its objectives by identifying constraints to the representation and active participation of the very poor and vulnerable people in the countrys poverty alleviation efforts. The grant is intended to design and pilot test programs to empower the poor and vulnerable to engage more effectively in the implementation of the governments Anti-Poverty Program. "This grant gives added meaning to pro-poor development by enabling marginalized communities and vulnerable groups to fully engage in the KALAHI-CIDSS and ensuring they are able to benefit from it," said DSWD Secretary Dinky Soliman.

BoC sets P1.2-B debt notes

Bank of Commerce (BoC) is starting its roadshow presentations next week to prospective clients following the approval by the Monetary Board, the policy-making body of the Bangko Sentral ng Pilipinas (BSP), of its P1.2-billion debt notes float under the Tier 2 capital. Sources said BoC officials will commence its roadshow …

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Publication information: Article title: NEWS IN BRIEF; P/$ Rate Closes at P54.18 to $1. Contributors: Not available. Newspaper title: Manila Bulletin. Publication date: May 12, 2005. Page number: Not available. © 2009 Manila Bulletin Publishing Corp. COPYRIGHT 2005 Gale Group.

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