More than P655 billion in credit guarantee lines opened last year as part of the Philippine Guarantee Corp.’s (PhilGuarantee) efforts to help enterprises and key industries cope with the coronavirus pandemic.
In his report to Finance Secretary Carlos Dominguez 3rd, PhilGuarantee President and Chief Executive Officer Alberto Pascual said that of the amount, the state-owned firm guaranteed P180.67 billion, 8 percent above its P167.21-billion target for 2020. Its MSME (micro, small and medium enterprise) Credit Guarantee Program accounted for P37.73 billion, he added.
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