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February 13, 2021 THE Department of Finance (DOF) said the recent P12.5 billion capital infusion to the Development Bank of the Philippines (DBP) will provide additional funds for the state lending institution’s Covid-19 response programs, which include extending low-interest, easy-to-pay loans to the transport, healthcare, education sectors along with micro, small and medium enterprises (MSMEs) and other affected industries. Finance Secretary Carlos Dominguez III said the DBP will also act as a wholesale bank that will buy the loans of smaller banks, cooperatives and other institutions to free up more credit for the benefit of other industries that need to recover from the pandemic-induced impact on the global economy. ....
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