DoF: State-run banks ready to fund MSMEs

The government, through its state-owned banks, is ready to provide financial support to micro, small and medium enterprises (MSMEs) in the Philippines as they prepare to face imminent competition from their Southeast Asian counterparts once the region’s common market is established in the next few years, the Department of Finance (DoF) said over the weekend.

Its expression of support comes as the agency said government-owned lenders have extended more than P82 billion so far this year to entrepreneurs in the countryside to help them expand their businesses.