PDIC Remits ₱107.23 Billion to Treasury to Support Priority Projects

The Philippine Deposit Insurance Corporation (PDIC) has remitted ₱107.23 billion to the Bureau of Treasury to fund the government’s key infrastructure and social programs, according to a statement released Monday.

Deposit Insurance Fund Remains Stable

Despite the substantial remittance, PDIC assured the public that the Deposit Insurance Fund (DIF) remains robust and compliant with international standards.

“The DIF continues to be maintained within the target level set by its Board of Directors based on international best practices,” said PDIC President Roberto Tan.

Following the remittance, the DIF stands at ₱202.85 billion, equivalent to 5.8% of the country’s estimated insured deposits. This remains within the PDIC Board’s target ratio range of 5% to 8%, ensuring sufficient coverage for potential risks in the banking system.

Funding for Priority Projects

The remitted funds will support a range of government initiatives aimed at stimulating economic growth. These include:

• Infrastructure Projects: Maintenance, repair, and rehabilitation of major infrastructure facilities.
• Social Assistance Programs: Assistance for individuals and families in crisis situations, including the Philippine Food Stamp Program.
• Disaster Preparedness and Rural Electrification: Disaster-related infrastructure projects and rural electrification through the Financial Subsidy for Photovoltaic Mainstreaming.

The funds will also provide counterpart financing for foreign-assisted projects, including:

• Panay-Guimaras-Negros Island Bridges
• Metro Manila Subway Project
• Mindanao Inclusive Agriculture Development Project
• North-South Commuter Railway System
• Cebu-Mactan Bridge and Coastal Road Construction Project
• Philippine Fisheries and Coastal Resiliency Project

These initiatives aim to spur economic activities, improve connectivity, enhance disaster resilience, and support social development nationwide.

Compliance with Mandate

The remittance aligns with the 2024 General Appropriations Act and an opinion from the Office of the Government Corporate Counsel (OGCC), reflecting the government’s commitment to utilizing idle funds for national development.