Categories
Politics

ANGARA: DUTERTE ADMIN LOANS SUPPORTED PH ECONOMY

The administration of President Rodrigo Duterte did a fair job in borrowing money amid the pandemic, Senator Sonny Angara said. Angara, chair of the Senate committee on finance, said he understands the need for the government to borrow money to support the economy and provide for the needs of its constituents. “It’s been a difficult […]

Categories
Politics

FARMERS’ ACCESS TO LOANS BILL GETS HOUSE OK

With the end in view of enhancing access of agricultural communities to financial services and programs that increase productivity, the Senate ratified the bicameral conference committee report on the bill repealing Republic Act No. 10000 or the Agri-Agra Reform Credit Act of 2009. Senator Cynthia Villar, the chairperson of the Committee on Agriculture, Food, and […]

Categories
Politics

SBCORP LOANS TO HELP JUMPSTART TOURISM INDUSTRY

Senator Sonny Angara called on the Small Business Corporation (SBCorp) and the Department of Tourism (DOT) to utilize the unspent funding from Bayanihan to Recover as One Act (Bayanihan 2) to help the stakeholders in the tourism industry prepare for the restart of activities after close to two years of hibernation. As the sponsor of […]

Categories
Politics

MORE SUBSIDIES NOT LOAN FOR MSMES – QUIMBO

A lawmaker urged economic managers to seriously consider expanding the various subsidy programs for micro, small, and medium enterprises (MSMEs) to help them recover from the impact of the coronavirus pandemic. Marikina City Representative Stella Quimbo said programs such as the Department of Trade and Industry’s Livelihood Seeding Program – Negosyo Serbisyo Sa Barangay (LSP-NSB) […]

Categories
Politics

GIVE TRANSPORT COOPS FUNDS TO MODERNIZE – ZUBIRI

Senate Majority Leader Migz Zubiri outlined legislative plans for the transport cooperative sector at the 1st Mindanao Transport Cooperative Congress, putting particular emphasis on cutting down red tape for loans and setting up a modernization loan fund for transport cooperatives. Zubiri, who chairs the Senate Committee on Cooperatives, was a guest speaker at the 1st […]

Categories
Government

NEA RELEASES P455-M IN LOANS TO COOPS AS OF AUGUST

The National Electrification Administration (NEA) has released P455.293 million worth of loans, including calamity loans, to 19 electric cooperatives (ECs) under the Enhanced Lending Program from January to August this year. Data from the NEA Accounts Management and Guarantee Department (AMGD) as of August 31, 2021 showed that the bulk or P380.293 million of these […]

Categories
Government

DA ADDS P300M FOR ASF RECOVERY LOANS – DAR

The Department of Agriculture (DA), through its Agricultural Credit Policy Council (ACPC), has allotted an additional P300 million for lending to backyard and semi-commercial raisers in “green zones” or areas free from the African Swine Fever (ASF). “The additional amount will help support our continuing efforts to revive the country’s hog industry,” said Agriculture Secretary […]

Categories
Government

5 ELECTRIC COOPS GET P123-M NEA LOANS IN APRIL

The National Electrification Administration (NEA) released P123.118 million in loans in April alone to improve the rural electrification infrastructure of five electric cooperatives (ECs) in the country. The recipients were Bantayan Island Electric Cooperative, Inc. (BANELCO), La Union Electric Cooperative, Inc. (LUELCO), Quezon I Electric Cooperative, Inc. (QUEZELCO I), Bohol II Electric Cooperative, Inc. (BOHECO […]

Categories
Politics

SENATE MUST OK BILL ON FARMER LOANS — VILLAFUERTE

Camarines Sur Rep. LRay Villafuerte has called on the Senate to fast-track its approval of a year-old House-approved measure that aims to enable banks to expand its assistance  to agriculture by amending certain provisions of the Agri-Agra Law, following reports that these lending institutions have again fallen short of their loan compliance to the sector […]

Categories
Government

DTI APPROVES OVER 21K SMALL BUSINESS LOANS – LOPEZ

The Department of Trade and Industry (DTI), through its financing arm the Small Business Corporation (SBCorp), has approved a total of 21,695 loan applications under the Bayanihan COVID-19 Assistance to Restart Enterprises (CARES) program to provide micro, small, and medium enterprises (MSME) with urgent relief needed to restart their businesses amid the pandemic. “Our efforts […]