MANILA, Philippines — The House of Representatives on Tuesday approved on third and final reading a bill that would equip government banks to grant more loans to micro, small, and medium enterprises (MSMEs) heavily affected by the coronavirus pandemic.
With 185 affirmative votes, 16 negative votes and two absentations, the lower chamber approved House Bill No. 7749 or the Government Financial Institutions Unified Initiatives to Distressed Enterprises for Economic Recovery (GUIDE) Act.
The bill seeks to expand the loan assistance programs, rediscounting and other credit accommodation facilities of the Land Bank of the Philippines (LBP), Development Bank of the Philippines (DBP), S…
Keep on reading: House OKs bill giving financial aid to MSMEs