The National Economic and Development Authority (NEDA) supports the recent move of the Bureau of the Treasury (BTr) of the Philippines to explore digital platforms in allowing investors to access investments in retail treasury bonds (RTB).
“The launch of Bonds.Ph app comes at a very opportune time. When the country is in most need of financing, this app makes it easier for us to participate in debt markets from the safety of our homes,” acting Socioeconomic Planning Secretary Karl Kendrick Chua said in a statement Thursday.
Chua said among the benefits of this initiative include the removal of the need to travel, line up at the banks, and fill up forms.
“As we transition into the new normal, we welcome all initiatives from different sectors that will expand economic activities while putting the health and safety of all Filipinos as the top priority,” he said.
“This initiative of the BTr will strengthen our financial inclusion as this supports our campaign to leverage financial technology and widen the reach of financial services in the country,” he added.
The launch of the Bonds.Ph app is part of the BTr’s issuance of the 24th tranche of RTBs, in support of the national government’s 2020 funding program and the response to the coronavirus disease (Covid-19) pandemic.
“With this in mind, I would like to encourage everyone to invest in these bonds as a way of directly participating in the government’s initiatives towards economic recovery forging the path to a stable and safe future ahead,” the NEDA chief said.
Also called Progreso bonds, this latest tranche will have a five-year tenor and a switch offer which will allow investors of specific bonds maturing 2020 and 2021 to switch into the RTB24 without the added cost.
For further details, visit the official website of the Bureau of the Treasury at www.treasury.gov.ph.
Users may also download the Bonds.Ph app from their respective app stores.
Source: Philippines News Agency