The Philippines > Philippine Government

LOANS OF BANKS TO EDUCATION SECTOR

(1/1)

MikeLigalig.com:
REP. FREDERICK W. SIAO
Lone District of Iligan City
Vice Chair, Committee on Tourism

Member, Appropriations, Economic Affairs, and 8 other committees                                                                   
Facebook: /congressmansiao Twitter: @freddiesiao 0917-729-2437                                                             

LOANS OF BANKS TO EDUCATION SECTOR IN 2017 WAS LESS THAN 1% OF TOTAL LOAN PORTFOLIO

[Rep. Siao asks Bangko Sentral and DBP to open loan windows for schools, urges banks to make education a loan priority]

Latest available Bangko Sentral ng Pilipinas (BSP) figures show the country’s banks and other financial institutions lent the education sector less than one percent of the total loans they approved and issued in 2017 and in the first two months of 2018. 

Last January, loans to educational institutions amounted to P32.8 billion. That same month, motor vehicle loans summed up to P262.8 billion.

Preliminary figures for February 2018 show bank loans to education at P33.75 billion. Compare that to the car loans total of P266 billion.

One reason Philippine education is lagging behind other countries, even here in Southeast Asia, is the limited financial support to our schools.

I believe the national government must find ways to make loans and grants accessible and affordable to schools.

The Bangko Sentral and the Development Bank of the Philippines ought to craft policies for and implement concessional loans to the education sector. An education sector loan facility or window might be appropriate. 

The Department of Finance can also help by sourcing foreign grants for public and private schools. For huge capital outlays, education bonds may be the proper solution.

Private banks must also carry their just share of the burden to improve the quality of education in our country by giving more loans to elementary schools, high schools, colleges, and graduate schools. (END)

REFERENCES:http://www.bsp.gov.ph/publications/tables/2018_03/news-03282018b1.htm  http://www.bsp.gov.ph/banking/pbs_excel/5.xls 

Going to travel? Book your place to stay at www.booking.com



Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=89504.0

Navigation

[0] Message Index