President Ferdinand R. Marcos Jr. on Friday approved the P4-billion emergency loan program for micro, small, and medium enterprises (MSMEs) to help businesses affected by the war in the Middle East.
“President Marcos has cleared a program for MSMEs in distress as a result of the global oil shock to avail of easy loans ranging from P30,000 to P20 million each,” Executive Secretary Ralph G. Recto said in a statement.
Mr. Recto added that the new government loan program is a “welcome development for MSMEs in light of the perennial credit squeeze in the country.”
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