House panel OKs bill expanding state-run banks’ assistance schemes for MSMEs

Philippines News News

House panel OKs bill expanding state-run banks’ assistance schemes for MSMEs
Philippines Latest News,Philippines Headlines
  • 📰 EdgeDavao
  • ⏱ Reading Time:
  • 58 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 51%

The House banks and financial intermediaries panel on Tuesday approved a bill increasing the capital of state-run bank Development Bank of the Philippines (DBP) and creating a special holding compa…

The House banks and financial intermediaries panel on Tuesday approved a bill increasing the capital of state-run bank Development Bank of the Philippines and creating a special holding company in order to expand government aid schemes to micro, small and medium enterprises affected by the COVID-19 pandemic.

In addition, the GUIDE bill authorizes government banking institutions DBP and Land Bank of the Philippines to invest in, or enter into a joint venture agreement to incorporate a special holding company . The bill defines SIC as “investee companies that are nationally significant,” or those with high economic returns or high employment potential, and are engaged in strategically important industries or sectors including agriculture, construction, education, food industry, healthcare, infrastructure, low-cost and socialized housing, manufacturing, power and energy, product distributor/retailer, services, tourism and hospitality, transportation and logistics, and water and sanitation.

On the other hand, equity participation in the SHC may be offered to, and held by, qualified private sector investors, including multilateral companies and lending institutions, as may be determined by the LandBank and DBP, provided that majority ownership of the total outstanding capital stock in the SHC will be held by the LandBank and DBP until such time that they have recovered or will be able to recover their investment in the SHC.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

EdgeDavao /  🏆 23. in PH

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Flexible mining taxes - BusinessWorld OnlineFlexible mining taxes - BusinessWorld OnlineThree bills were filed at the House of Representatives at the First Regular Session of the 19th Congress proposing to amend the mining taxes, among other purposes.
Read more »

China has been simulating attacks on U.S. Navy ships, Taiwan saysChina has been simulating attacks on U.S. Navy ships, Taiwan saysTAIPEI (Reuters) -China has been simulating attacks on U.S. Navy ships and is aiming to prevent foreign forces from coming to Taiwan's aid in the event of a war, Taiwan's defence ministry said in a strongly worded report raising the alarm on Beijing's military designs. Tensions between Taiwan and China have soared following a visit to Taipei last month by U.S. House Speaker Nancy Pelosi, which infuriated Beijing, which viewed it as an interference in its affairs. China, which claims democratically-governed Taiwan as its own despite the strong objections of the Taipei government, carried out war games after Pelosi's trip and is continuing its military activities near the island.
Read more »

Flexible mining taxes - BusinessWorld OnlineFlexible mining taxes - BusinessWorld OnlineThree bills were filed at the House of Representatives at the First Regular Session of the 19th Congress proposing to amend the mining taxes, among other purposes.
Read more »

Marcos return to Malacañang funded by donors linked to father’s ‘cronies’, gov’t contractorsMarcos return to Malacañang funded by donors linked to father’s ‘cronies’, gov’t contractorsCAMPAIGN FINANCE AUDIT 2022 Partido Federal ng Pilipinas footed 40% of President Ferdinand Marcos Jr.’s campaign bill through party treasurer Antonio Ernesto “Anton” Floirendo Lagdameo Jr., grandso…
Read more »



Render Time: 2025-02-19 22:28:11