Bank loans to MSMEs rise to nearly P200 billionBSP Governor Benjamin Diokno told participants of a virtual forum organized by the Chinese Filipino Business Club that the amount disbursed to MSMEs reached P195.9 billion, representing 13.3 percent share of the total required reserves as of the week ending Sept. 23. MANILA, Philippines — Loans extended by banks to micro, small, and medium enterprises (MSMEs) used as compliance with the central bank’s reserve requirement ratio (RRR) nearly hit P200 billion as of Sept. 23, according to the Bangko Sentral ng Pilipinas. “The BSP recognizes the crucial role of MSMEs in the economy. Let me discuss the regulatory and relief measures that the BSP has implemented to support them,” Diokno said. For one, the regulator has allowed the new peso-denominated loans to MSMEs and critically impacted large enterprises that do not belong to a conglomerate to be counted as compliance with the BSP’s reserve requirement.

Source: Philippine Star November 07, 2021 02:23 UTC