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31K benefit from interest free DTI loan
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Tourism contribution to GDP lowest in at least 2 decades
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DTI approves P4 5 billion in loans to MSMEs
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Reviving PH tourism through DOT s livelihood revitalization program
enablePagination: false PHOTO FROM DEPARTMENT OF TOURISM
Metro Manila (CNN Philippines) The COVID-19 pandemic not only triggered a health crisis, but it also clobbered the economy. Many businesses, especially those in the tourism sector, suffered as borders were closed and people werre advised to stay at home and avoid leisure travels.
To address the business slump, the government came up with several ways to help affected businesses through the Bayanihan 2 loan relief, which includes the COVID-19 Assistance to Restart Enterprises for Tourism Rehabilitation and Vitalization of Enterprises and Livelihood program (CARES FOR TRAVEL). The Department of Tourism together with the Small Business Corporation (SBC) is implementing this program, a special financing facility under the Department of Trade and Industry for micro and small tourism businesses to help them restart amid the crisis.