Manila Bulletin
MSMEs to receive financial aid from the government
The government will provide P35 to P50 billion in financial aid to micro, small, and medium enterprises (MSMEs) through the "Small Business Wage Subsidy Program."
This aid is intended for employees of registered MSMEs, estimated to be around 3.5 million individuals.
Beneficiaries will receive the financial assistance via their SSS UMID cards, bank accounts, or e-wallets.
The distribution of aid will occur in two tranches, from May 1 to 15 and from May 16 to 30.
Finance Secretary Carlos G. Dominguez III previously stated that direct cash aid for the middle class was unlikely at the time.
This program addresses sentiments from netizens who felt the middle class was being overlooked for government support during the enhanced community quarantine.
🤖
This story was generated by AI to help you understand the key points. For more detailed coverage, please see the news articles from trusted media outlets below.
News Sources
See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.
The Philippine government has begun accepting applications for its Small Business Wage Subsidy Program to assist micro, small, and medium enterprises (MSMEs) in retaining employees during the COVID-19 community quarantine.
Read more →
Senator Christopher "Bong" Go praised the government's Small Business Wage Subsidy (SBWS) program, highlighting the crucial role of micro, small, and medium enterprises (MSMEs) in the Philippine economy.
Read more →
The Philippine government is launching a P51-billion wage subsidy program to aid middle-class workers in small businesses affected by the enhanced community quarantine.
Read more →
Senate President Vicente Sotto III urged the government to extend financial aid to all Filipinos affected by the enhanced community quarantine (ECQ) due to COVID-19, not just the poor.
Read more →
Bagong Henerasyon Rep. Bernadette Herrera is pushing for a two-month wage subsidy program for workers of micro, small and medium enterprises (MSMEs) to provide financial relief during the COVID-19 pandemic.
Read more →