BSP wants foreign banks more involved in infra, ‘green’ financing

MANILA: Foreign banks can play a major role in the Philippines economic recovery from the coronavirus pandemic by bringing their resources to bear to fund big-ticket infrastructure projects and by undertaking so-called green finance activities.

At the same time, these international financial institutions can also boost inclusion in the country with a number of them interested in establishing local digital operations either by acquiring new licenses or converting their existing traditional banking licenses.