AreaPhilippines

Commodity GroupGrains

CommodityAll

Date11/09/2020

Policy CategoryConsumption and marketing

Policy InstrumentGovernment market intervention

DescriptionApproved a stimulus package, Bayanihan to Recover as One Act (Republic Act No. 11494), which aims to ease the economic hardship caused to businesses as a result of the COVID-19 pandemic. Direct cash subsidies, zero-interest loans, and other forms of assistance will be provided to qualified farmers under the farmers\' registry and farmers\' cooperatives and associations, and an initial capital injection of PHP 39.4 billion (USD 891.1 million) has been provided. In addition, the Act allows a one-time 60-day grace period for paying loans, including credit card payments.