An initial P10.1 billion in cash grants have so far been credited to more than 1.2 million employees of micro, small and medium enterprises (MSMEs) under the Small Business Wage Subsidy (SBWS) program, according to the Department of Finance (DoF).
In a statement on Friday, Finance Secretary Carlos Dominguez 3rd cited a report from the SBWS inter-agency task force in saying that “the first tranche of [these] subsidies has been credited to…1,261,044 beneficiary employees as of May 6.”
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