Industry

Philippine Loans For COVID-19 Response Reach $5.8 Billion

That's around P288 billion.
Comments

How much money has the Philippines borrowed to respond to COVID-19? That’s the question on everyone’s mind. According to the Department of Finance, the Philippines has borrowed $5.758 billion or around P288 billion.

Also read: The Richest Families in Cebu

This amount is as of June 4, according to presidential spokesperson Harry Roque Jr., who made the announcement earlier on Thursday, June 25.

Here’s a breakdown of all Philippine COVID-19-related loans:

 

ADVERTISEMENT - CONTINUE READING BELOW

Most of the financing is being sourced through the Asian Development Bank, World Bank, and Philippine bonds.

These loans do not account for the internally sourced funds from the national budget allocated by the Department of Budget and Management. The government has set aside P353.56 billion to fund the social amelioration program, small business wage subsidies, and more.

Meanwhile, the national debt is at P8.6 trillion.

CONTINUE READING BELOW
Recommended Videos
Comments
View More Articles About:
More Videos You Can Watch
About The Author
Anri Ichimura
Section Editor, Esquire Philippines
View Other Articles From Anri
Latest Feed
Load More Articles
Connect With Us