MANILA, Philippines — The government should convert the bulk funds for loan programs “lying unused” from state financial institutions into direct assistance to businesses hardest hit by the COVID-19 pandemic, Senator Imee Marcos urged on Thursday.
Marcos, the chairperson of the Senate economic affairs panel, recently led a hearing on the status of government programs aimed at helping pandemic-hit industries, underscored the need to provide direct subsidies to struggling businesses.
“We need to convert billions pumped into banks and other financial institutions into ‘ayuda’…and increased assistance to the unemployed through the Social Security System, plus other direct subsi…
Keep on reading: Convert ‘lying unused’ loan funds for COVID-hit biz to direct subsidy – Marcos