MANILA: The Philippines central bank has stepped in to encourage banks to lend to small businesses reeling from the economic fallout from the Covid-19 (coronavirus) pandemic.
A new rule allowing banks to count new loans to micro-, small- and medium-scale enterprises as compliance with the reserve requirement is effectively a cut in the reserve ratio, central bank Governor Benjamin Diokno said.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
