[From the web] “Ayuda not loans” – Labor NGO comments on Bayanihan 2 unused loan funds for MSMEs | EILER

“Ayuda not loans” – Labor NGO comments on Bayanihan 2 unused loan funds for MSMEs

Labor NGO Ecumenical Institute for Labor Education and Research urges the government to provide ayuda instead of loans.

“Local businesses incurred severe losses due to the government’s ineffective lockdowns. Instead of loans, the government should give MSMEs unconditional aid to strengthen the domestic economy,” said EILER Executive Director Rochelle Porras.

In their comment on the recent COA report exposing the PhP 4.9 billion unused Bayanihan 2 loan funds for MSMEs, EILER highlights that only 4.9% of target MSMEs availed of the loan, citing the government lockdown and slow processing time as reasons for MSMEs to be discouraged.

“The slow and inefficient government response has resulted to the closure of many small businesses. That, in turn, caused massive joblessness, ” Porras added.

EILER said that the current administration should be held accountable for its failure to provide support for workers and local businesses amid the pandemic. Further, EILER encourages all electoral candidates to seriously prioritize and ensure support for local MSMEs.

“MSMEs are crucial in building our own capacity in terms of local production. Strong domestic economy will result in more sustainable jobs and progress of our economy,” ended Porras.

NEWS RELEASE
10 March 2022
Reference: Ms. Rochelle Porras, EILER Executive Director, +63 927 493 5747

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