Landbank lending to MSMEs hits P50 billionIn a statement, Landbank said its outstanding loans to micro, small and medium enterprises (MSMEs) reached a total of P49.5 billion as of end-June. MANILA, Philippines — The Land Bank of the Philippines has released P49.5 billion in loan financing to local businesses in a bid to advance economic development in the country. In a statement, Landbank said its outstanding loans to micro, small and medium enterprises (MSMEs) reached a total of P49.5 billion as of end-June. On top of its regular loan facilities, Landbank started the Interim Rehabilitation Support to Cushion Unfavorably Affected Enterprises by COVID (I-RESCUE) lending program dedicated to the needs of MSMEs. To date, Landbank has raised to P60 billion the available loanable fund, with the program extended until end this year to accommodate more potential borrowers.

Source: Philippine Star July 28, 2023 09:41 UTC