Presidential Communications Operations Office

  PIA Bldg, Visayas Ave, Diliman, Quezon City, Philippines
  Tuesday, 7 April 2020 News Before 1 Feb 2012. Click for Latest
Web PIA  
 << April 2020 >> 
1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30
Special News Editions:
PIA Specials:
NEW! Cabinet Officials
Jobs.Slides.Specials.Ads. Events.ASEAN.Multimedia
Visitors since 15 Feb 2011:
PIA News Archive:
PIA Archive News Reader

PIA Press Release

Guidelines on small business loans discussed

by ES Subong

Iloilo City (17 October) -- Proposed guidelines on how to streamline processes for providing loans to SMEs are now being discussed upon instruction of President Arroyo that the trade and industry and the finance sector should capitalize on lower interest rates brought about by the country's higher credit ratings.

Finance Secretary Margarito Teves said that SMEs should be provided with better access to loans without much of the procedural bottlenecks.

Likewise, President Arroyo asked the Bangko Sentral ng Pilipinas and the private banks to work on a memorandum of agreement on a possible informal way of giving easier access to capital for entrepreneurs with a simplified procedure for the granting of loans.

Meanwhile, the government welcomes the reports of the credit rating upgrade from Moody's because it shows that the fiscal discipline imposed by the Administration is winning the day for the Filipinos.

The President welcomed the lower interest rates brought about by higher credit ratings which would translate to more foreign direct investments and more job opportunities.

On the other hand, Secretary Teves said that the proposed informal mechanism between the BSP and the private banks for better access to capital would address the needs of the entrepreneurs.

This, he said would meantime serve as Congress discusses on proposals for the creation of the credit information bureau that is expected to help simplify procedures.

Without which, the President said, many entrepreneurs still could hardly find access to capital, despite the lower interest rates and adequate funds in the private banks. (PIA 6) [top]

|«  prev  next  »|
»Troops defuse bomb in Pagadian market
»Mindanao cities on the rise
»CPP-NPA commit human rights violations
»DOT prepares East Coast for Pacific-rim highway
»Sunday Runners club encourages support for Finishers Marathon
»Gen. Boac identifies new targets of operations with ComVal as priority area
»RP ranks 8th highest in fish production - BFAR
»Tagalog News: DOH, UNICEF, WHO magsasagawa ng mass deworming today
»P5.815-B coastal road to link Surigao to Davao Oriental
»DOST mulls first mobile lab for food safety
|«  prev  next  »|

Philippine Official Gazette | Office of the President | Presidential Communications Operations Office
For comments and feedback, please email PIA Newsdesk
Copyright © 2005 Philippine Information Agency
PIA Building, Visayas Avenue, Diliman, Quezon City 1101 Philippines