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Only 2,000 MSME loans approved from Bayanihan II allocation

THE Department of Trade and Industry (DTI) said about 2,000 loan applications were approved for micro-, small-, and medium-sized enterprises (MSMEs) last year out of a P10-billion allocation under the Bayanihan to Recover as One Act (Bayanihan II), underperforming a target to process 15,000 applications before the end of 2020.

Duterte signs bills extending budget, Bayanihan II validity

PRESIDENT Rodrigo R. Duterte signed measures extending the validity of the funds authorized by the 2020 national budget as well as those appropriated for the government’s second stimulus package.

Budget, Bayanihan II extension bills now with Palace for signing

MEASURES extending the validity of the 2020 budget and the Bayanihan to Recover as One Act (Bayanihan II) until next year are now before President Rodrigo R. Duterte’s signature.

Congress OK’s extension of Bayanihan II validity

CONGRESS has approved the bill extending the validity of the Bayanihan to Recover as One Act (Bayanihan II) by six months, a few days before the law was set to expire on Dec. 19.

Congress to tackle Bayanihan II extension next

THE SENATE and the House of Representatives will focus next on extending the validity of the Bayanihan to Recover as One Act (Bayanihan II), after the chambers concluded their discussions on the 2021 spending plan.

Assistance to shipping industry to take form of subsidized port fees

THE Philippine Ports Authority (PPA) said the shipping industry will receive assistance from the government’s second stimulus package in the form of subsidized port fees.

Legislator seeks immediate release of Bayanihan II funds for MSMEs

A LEGISLATOR urged the Department of Trade and Industry (DTI) to expedite the release of stimulus funds intended to help small firms stay afloat.

Less than two-thirds of Bayanihan II funds released so far —...

THE BUDGET department has released less than two-thirds of the P140-billion stimulus package under Republic Act No. 11494 or the Bayanihan to Recover as One Act (Bayanihan II), a month before the law expires.

Budget department releases P78 billion to boost Philippines’ pandemic response

THE BUDGET department released more funds from the government’s second stimulus package, but economists said the sluggish disbursement so far may hamper the Philippines’ recovery.

Gov’t to prioritize local suppliers, small firms in purchase of goods...

THE Government Procurement Policy Board (GPPB) issued new guidelines Saturday ordering preference for domestic bidders and small businesses when possible to ensure rapid procurement under Republic Act (RA) 11494, or the Bayanihan to Recover As One Act (Bayanihan II).

Airlines await P700-M loan from Bayanihan II

THE Air Carriers Association of the Philippines (ACAP) on Monday said about P700 million had been allocated for local airlines from the law that sets out the government’s recovery plan in response to the pandemic, on top of the P10 billion they expect from state financial institutions to lend to or invest in the industry.

Think tank says Bayanihan II legislation unlikely to keep laid-off workers...

THE P165-billion Bayanihan to Recover as One legislation is not expected to be sufficient for sustaining workers and companies through the pandemic, according to think tank IBON Foundation, Inc.

Bicameral panel approves Bayanihan II of up to P165B

THE Bicameral Conference Committee has harmonized the Bayanihan II legislation, paving the way for both chambers to ratify the government’s economic recovery plan by next week at the latest.

After Bayanihan II, Senate to focus on CREATE bill

THE SENATE will begin deliberations next week on the proposed Corporate Recovery and Tax Incentives for Enterprises Act (CREATE), which will immediately cut corporate income tax to 25%.

Senate backs separating measures for financial industry from Bayanihan II legislation

THE SENATE prefers to legislate pandemic relief measures specific to financial institutions separately from the Bayanihan II bill, as opposed to the House of Representatives’ more integrated proposal, Senator Grace S. Poe-Llamanzares said at an online briefing Wednesday.

Extended debt moratorium may hurt rural banks

RURAL BANKS will likely take a hit if the proposed suspension of loan payments will be extended anew as debt payments are crucial to the capital levels of smaller lenders.

BSP warns vs 1-year debt moratorium

BANGKO SENTRAL ng Pilipinas (BSP) Governor Benjamin E. Diokno on Thursday warned the proposed one-year debt moratorium for borrowers under the Bayanihan to Recover as One (Bayanihan II) measure will “significantly strain” the banking industry.

House approves Bayanihan II

THE House of Representatives on Monday gave final approval for the P162-billion fiscal stimulus measure, which includes providing much-needed financial aid for sectors hardest hit by the pandemic.