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Banks urged: Provide reprieve to biz loans

The Davao City Chamber of Commerce and Industry Inc. (DCCCII) has urged banks to allow delayed payment of business loans amid the Covid-19 pandemic.

In a statement, DCCCII called on banks to allow borrowers to not pay their loans for at least two months as they, among them hotels and other tourism-related establishments, have been absorbing losses due to Covid-19 and the series of earthquakes from last year.

These establishments incurred losses due to the cancelled bookings from the earthquakes late 2019 as well as the outbreak of Covid-19 which has claimed about eight deaths.

DCCCII also urged the Department of Trade and Industry and Department of Agriculture to monitor prices on basic commodities and supplies, and control them if necessary.

Aside from those, it also requested the public to follow the government’s measures in mitigating the said disease. Practicing proper hygiene and other positive health habits are also encouraged.
Although there are no confirmed Covid-19 cases yet in the city, the city government has placed the city on community quarantine through the Executive Order No. 10.
Under the executive order, people are advised to stay in their homes and do not go out unless it is necessary. Mass gatherings are also suspended and movement in and out of the city is regulated.
Private companies are now required to to prepare and implement a flexible workplan and bank transactions and meetings are now required to be done online.

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