PLDT takes out P4-B green loan for expansion

Telco leader PLDT Inc. has doubled down on its strategy to acquire sustainable loans as it took out P4 billion in green financing from Metropolitan Bank and Trust Co. to fund its network expansion.

- ELIJAH FELICE ROSALES

In a disclosure to the local bourse, PLDT said it landed a green loan worth P4 billion from Metrobank, the first of this kind secured by the telco from a local creditor.

Last March, PLDT borrowed P1 billion from the green loan facility of HSBC Philippines, making it the first Philippine telco to avail itself of the program.

Similar to the HSBC loan, PLDT will use the P4-billion loan from Metrobank to roll out its broadband assets across cities and municipalities. Primarily, the project seeks to narrow the digital divide by improving connectivity quality.