MANILA, Philippines — Assistance to borrowers amid a prolonged pandemic through the Development Bank of the Philippines (DBP) will soon be available after the release of P12.5 billion to the state-run lender Friday.
Department of Budget and Management (DBM) documents showed the special allotment release order (Saro) covered the national government’s equity contribution to DBP’s wholesale banking, which in turn will cover loans and interest payments of beneficiaries badly hit by the Covid-19 crisis.
This financing facility formed part of the Bayanihan to Recover as One Act or Bayanihan 2 Law, whose validity had been extended up to June this year.
The DBM was able to release pendi…
Keep on reading: DBP gets P12.5 billion for Bayanihan 2 loan relief