Tourism groups push for PHP10-B loan facility in Bayanihan 2

Tourism groups are urging the bicameral conference committee to retain a PHP10-billion loan facility for micro and small players in the Bayanihan 2 bill.

The Tourism Congress of the Philippines (TCP) and over 50 other organizations stated that this fund would help stakeholders stay operational and recover from pandemic effects.

They emphasized that the credit facilities, administered by government financing institutions like the Development Bank of the Philippines and Land Bank of the Philippines, are not a dole-out but loans to tide businesses over.

The funds will assist in facility rehabilitation, business upgrades to meet health standards, and financial aid for employees.