Philippines: PLDT secures green loan for fiber network expansion

May 08, 2024 | Posted by Abdul-Rahman Oladimeji

Philippines Long Distance Telephone Company (PLDT) has secured a green loan from Metropolitan Bank & Trust Co. (Metrobank) worth 4 billion pesos ($69 million). Proceeds from the loan will be used toward expanding PLDT's fiber footprint, as it seeks to "narrow the country's digital divide, but also ensure a fast and reliable internet experience facilitated by an energy-efficient network."

“PLDT’s active participation in the growing domestic market of sustainable finance is a demonstration of our adherence to global best practices in pursuit of sustainable profitability," said Danny Yu, chief financial officer and chief risk management officer, PLDT.

"We are encouraged by the financial community’s support of the Bangko Sentral ng Pilipinas’ advocacy for sustainable financing as we continue to explore various ways to green our operations. Our partnership with Metrobank reinforces our commitment to broaden our sustainable financing portfolio.”