The Bangko Sentral ng Pilipinas (BSP) said bank loans to micro, small and medium enterprises (MSMEs) continued to fall short of the mandatory threshold as of September 30, 2021.

According to the most recent central bank data, P440.34 billion was set aside for MSMEs funding during the period, falling short of the P826.64 billion required under Republic Act 6977, also known as the "Magna Carta for MSMEs." The amount was merely 5.21 percent of the total loanable funds of P8.44 trillion as of the third quarter of last year, significantly below the law's 10-percent threshold.

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