The additional P27.5-billion equity infused into state-run Land Bank of the Philippines (Landbank) will be injected into existing and upcoming loan programs for small businesses badly hit by the pandemic-induced recession, an official said.
In a telephone interview on Wednesday, Landbank vice president and corporate affairs group head Vivian Caonero said the Bayanihan to Recover as One Act or Bayanihan 2 Law had set aside the additional capital for lending programs geared toward micro, small and medium enterprises (MSMEs) in a bid to revitalize the economy.
Besides direct MSME loan programs, lending will also be coursed through partners such as local government units (LGUs) and cou…
Keep on reading: Landbank’s add’l equity to go to MSME loan programs