https://www.pna.gov.

ph/articles/1151041

Bank loans to MSMEs rise during pandemic

By Joann Villanueva, Publish on August 19, 2021, 7:05 pm

Small businesses continue to gain access to financing from banks,

especially after the Bangko Sentral ng Pilipinas (BSP). As of July

29, banks extended a total of PHP188.7 billion to micro, small and

medium enterprises (MSMEs). "These numbers suggest that

banks continue to extend financial relief to borrowers during this

crisis," BSP Governor Benjamin Diokno said in a virtual briefing.

The BSP has allowed banks' MSME borrowings as alternative

compliance to reserve requirements. This aims to increase banks'

liquidity and boost their ability to extend more loans to small

businesses which are aimed at ensuring that economic activities

remain robust despite the pandemic.