The availability of a bigger loan facility for local government units struggling amid the pandemic has raised to $21.65 billion (about P1.04 trillion) the Philippines’ response package to fight COVID-19, according to the Manila-based multilateral lender Asian Development Bank (ADB).
Latest data on the ADB’s COVID-19 policy database showed an increase in the sum of measures put in place by the Philippines as of Nov. 16, from $21.5 billion in September, $21.1 billion in July, $20.1 billion in June, $19.8 billion in May, and $16.5 billion in April.
The Philippines’ COVID-19 war chest was expanded by the additional P10 billion injected into state-run Land Bank of the Philippines’ loan …
Keep on reading: PH’s COVID-19 war chest hit $21.65B as of mid-November