MinBC proposes moratorium on loans repayments, interests

AS THE Marawi Siege had come to an end, the Mindanao Business Council (MinBC), together with the International Alert and Metro Marawi Chamber of Commerce and other partner organizations propose a 1-year moratorium on business loans repayment and interests.

MinBC chairman Vicente Lao said in a statement that the organizations is also proposing streamline process and provide accompaniment on loan and credit applications; and facilitate and link access to suppliers that can provide preferential rates.

“The scope and delimitation of this plan involves concrete support from the government through financial institutions (bank and non-bank) and other institutions that can provide loan and financing for MSMEs. The easing and assistance in processing credit/loan application will also hasten application/s and provide sound educational aspect to entrepreneurs on how to avail these loans. More importantly, creating a network of suppliers to businesses will create an efficient business matching environment,” he said.

The suggested actions form part of the organization's proposal to the government on providing support and help for the immediate resumption of business activities in Marawi City.

This proposal is part of the five-point advocacy agenda laid about by the MinBC, which are the results of regional consultations with different business organizations, civil society groups, and government agencies.

"MinBC came up with five action points covering various possible fiscal and non-fiscal support for the Internally-displaced businesspersons (IDBs) of Marawi, and also craft protective measures that the government can employ to -reviving and empowering the business sector," Lao said.

The five-point adovcaty agenda include support and help for the immediate resumption of business activities in Marawi City; encourage formal and legitimate operation for business; institutionalize interventions for entrepreneurial education; intensify business support services and programs; and urging the government to support and endorse the recommendations raised by the Metro Marawi Chamber of Commerce and Industry, Inc. to the inter-agency Task Force: Bangon Marawi.

"This advocacy is aimed to create a business climate in Marawi City that is not only beneficial to the people within, but to the entire province of Lanao del Sur, and the rest of the region. It is aimed to craft policies sensitive of the needs of the community in the context of rebuilding and rehabilitating from all the damage cost of the war," Lao said.

He said the proposed five-point agenda also "aims to create a blueprint of actions

that can be replicated in any market and city that ensembles a robust and business-friendly community supported by the government and the civil society."
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