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Senator Win Gatchalian reminded private lending institutions accredited under the Department of Education’s (DepEd) Automatic Payroll Deduction System (APDS) not to impose penalties on late loan payments by teachers during the lockdown being enforced to contain the spread of the coronavirus disease 2019 (COVID-19) pandemic. In a March 20 letter addressed to private lending institutions […]
Senator Win Gatchalian is pushing for the implementation of a minimum 30-day grace period for loan payments within the enforcement period of the enhanced community quarantine over Luzon. Gatchalian is proposing that the grace period for loan payments cover all banks, including quasi-banks, financing companies, lending companies, and other financial institutions, both public and private, […]
To help them rebuild their lives amid the calamity, Senator Win Gatchalian is calling for the imposition of a one-year moratorium on loan amortizations for residents affected by the Taal Volcano eruption. Immediately upon Congress’ resumption of session, Gatchalian filed Senate Resolution No. 289 (SRN 289) urging the Government Service Insurance System (GSIS), the Social […]
The National Electrification Administration (NEA) has continued to support the electric cooperatives (ECs) in their various electrification projects focused on improving their services to the communities they serve. Latest data from the NEA Accounts Management and Guarantee Department (AMGD) showed that from January to June 2019, the state-run agency released P395 million worth of loans to […]
Electric cooperatives (ECs) are embarking on construction and improvement of infrastructures that will help ensure better operational efficiencies and continuous delivery of electric services to their consumers. In the first quarter of this year, at least 13 power co-ops availed of loans amounting to P250 million from the National Electrification Administration (NEA) to bankroll their […]
A bill aiming to overhaul the country’s warehouse receipts system to help boost farmer’s productivity, introduced by Senator Win Gatchalian, has been sponsored by Senator Koko Pimentel, III, chairman of the Senate Committee on Trade, Commerce, and Industry. According to Gatchalian, he filed Senate Bill No. 2171, otherwise known as the Philippine Warehouse Receipts Act […]
The chairman of the House of Representatives’ Committee on Agriculture and Food has welcomed the move by the Department of Agriculture (DA) to allocate P200 million in loan funds for rice farmers who will sell their produce to the National Food Authority (NFA). “This is good news for our farmers. Mahalaga itong nagbubuhos tayo ng […]
Several electrification projects in 2018 ranging from installation of new substations, construction of distribution lines, to rehabilitation of mini-hydro power plants were financed through loans offered by state-run National Electrification Administration (NEA). Data from the NEA Accounts Management and Guarantee Department (AMGD) showed P2.084 billion worth of loans, including calamity loans, were extended to 62 […]
Over a year after the guns fell silent in Marawi City, the Department of Trade and Industry (DTI) has continued to provide livelihood assistance for families and individuals whose lives were turned upside down by the months-long fighting. The Small Business (SB) Corp. said disbursement of the P100 million budget for livelihood assistance to internally […]
Saying cheap credit will also improve the agriculture sector’s productivity, Senator Cynthia Villar commended thrift banks for being at the forefront of providing this to farmers and fisherfolks. During the Chamber of Thrift Banks General Membership Meeting at the Makati Shangri-La Hotel, Villar said agri-entrepreneurs, businesses and rural cooperatives are also among the beneficiaries of […]