BSP can lend up to P850B to gov't under Bayanihan II

The Bangko Sentral ng Pilipinas (BSP) can now lend up to P850 billion to the National Government under Bayanihan II, an increase from the previous cap of P540 billion.

Bayanihan II allows the BSP to provide additional direct provisional advances to the government for expenditures related to the COVID-19 pandemic response, as long as it does not exceed 10% of the government’s average income from fiscal years 2017 to 2019.

National Treasurer Rosalia de Leon assured that Bayanihan II has sufficient funding through borrowings, additional income, and the BSP facility.