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The National Electrification Administration (NEA) collected P773.91 million in loan amortization payments from the electric cooperatives (ECs) in the first six months of 2020. This translates to 95.90-percent collection efficiency, the NEA Finance Services Department said in a report submitted to Administrator Edgardo Masongsong. NEA offers various loan windows to qualified ECs, such as regular, […]
With the Bayanihan to Recover as One Act (Bayanihan 2) now signed into law, Union of Local Authorities of the Philippines (ULAP) National President and Quirino Governor Dax Cua on Saturday urged local government unit (LGU) executives to make full use of loans and loan subsidies now available to LGUs in order to help them […]
Deputy Speaker LRay Villafuerte said over the weekend the proposed Bayanihan To Heal As One Act that the House of Representatives is set to ratify on Monday contains features that aim to strengthen the coronavirus disease (COVID-19) response capabilities of local government units (LGUs) and hasten the recovery of businesses hit hard by the coronavirus-induced […]
House Tourism chair Sol Aragones clarified that the tourism sector will still have access to billions of pesos under the Bayanihan to Recover as One Act, or Bayanihan 2, and revealed on Friday that Congress had even set up meetings between tourism stakeholders and government financial institutions so that they could easily obtain loans to […]
Loans, including calamity loans, extended by the state-run National Electrification Administration (NEA) to electric cooperatives (ECs) reached P343.445 million in the seven-month period (January to July 2020). A big chunk of these loans, P240.365 million, went to fund the electrification projects and working capital requirements of nine ECs, data from the NEA Accounts Management […]
The Department of Agriculture (DA) recently transferred to the Land Bank of the Philippines (LandBank) an additional P1.44 billion to fund loans made by farmers, fisherfolk, and agripreneurs under the Agricultural Competitiveness Enhancement Fund (ACEF) credit program. “The fresh fund augments the previous P4.495B the DA has cumulatively entrusted to LandBank, being the administrator of […]
Porfirio Caagbay, 67, of Tayabas, Quezon, used to harvest an average of 4 tons of palay (unhusked rice) without using fertilizer. This current main season, with fertilizer support from the Department of Agriculture (DA), the veteran farmer looks forward to harvesting 2 tons more, as he will apply at least four 50-kilo bags of urea […]
Filipinos can now avail of housing loans with the lowest interest rates under the Home Development Mutual Fund (Pag-IBIG Fund) until December. Department of Human Settlements and Urban Development (DHSUD) Secretary Eduardo del Rosario announced the approval of the Pag-IBIG Fund promotional rates for its members who would apply for housing loans under the End-User […]
The Department of Trade and Industry (DTI) recently released its first batch of loans under the coronavirus disease (COVID-19) Assistance to Restart Enterprises (CARES) program to micro and small enterprises. Fifteen borrowers from the National Capital Region and 26 borrowers from the Cordillera Administrative Region received the first batch of CARES program loans. DTI Secretary […]
To help the overseas Filipino workers (OFW) who were repatriated after losing their jobs abroad, Senator Sonny Angara reminded the Overseas Workers Welfare Administration (OWWA) to fulfill its mandate of providing them with low-interest loans, which they can use to restart their lives again here in the country. As the sponsor of Republic Act 10801 […]