This move aims to bridge the digital divide by improving access to essential services like education and healthcare, the telco giant said in a stock exchange filing on Wednesday.
The company plans to expand coverage further, in line with President Marcos’s push to enhance connectivity in GIDAs. By mid-2024, PLDT had connected 767 GIDAs to its fiber infrastructure.
Earlier this year, the company also secured a P1-billion green loan to upgrade its network from copper to fiber, reducing its carbon footprint and operational costs.
Management’s view
“The integration of PLDT’s sustainability agenda in the business is evident even in the way we fund our projects,” said PLDT chief finance and chief risk officer Danny Yu.
“We are happy to find a like-minded partner in HSBC who is helping to fund our efforts to narrow the digital divide and connect unconnected communities,” he added.
Supporting internet access
“With this being HSBC’s first social loan facility to a telco company in the Philippines, it’s noteworthy that this project will help support the improvement of access to the internet for Filipinos in these underserved areas so that they can actively participate and compete in the digital economy,” said HSBC Philippines head of wholesale banking Mimi Concha.
PLDT’s commitment to sustainability
“By expanding our presence in GIDAs and low-income municipalities, we are helping to foster inclusive growth and development in some of the most remote parts of the country,” said PLDT chief sustainability officer Melissa Vergel de Dios.
