MANILA, Philippines—Tokyo-based Asian Development Bank Institute (ADBI) has urged the Philippine government to give small businesses targeted financial support and help in shifting to digital operations if they were to survive a prolonged pandemic.
At the height of the most stringent level of COVID lockdown in 2020, micro, small and medium enterprises (MSMEs) in the sectors of accommodation and food services, construction, education, manufacturing, and tourism were hurt the most by measures that froze 75 percent of the economy at that time, according to an ADBI paper published on Tuesday (Feb. 9).
Citing the same survey conducted from March to April 2020, ADB …
Keep on reading: ADB think tank: PH MSMEs need targeted support to survive prolonged pandemic