In the Philippines, some of the government’s available economic relief programs in the formal sector are as follows. In addition, the DoF proposes amending the law to allow a longer net operating loss carryover (NOLCO) period of five years to help small businesses cope with their losses. DTI said that micro businesses can borrow up to P200,000 and small businesses up to P500,000 with minimal interest rate of 0.5 percent per month. The agency is also supporting micro and small businesses through commercial rents assistance. The Bangko Sentral ng Pilipinas (BSP) has also taken steps to encourage banks to lend to small businesses to ease their liquidity positions.

Source: Manila Times April 26, 2020 16:30 UTC