Bohol Governor Arthur Yap during the Senate virtual meeting on Friday. | Photo grabbed from the Facebook page of Art Yap
In a Facebook post on Friday, May 29, 2020, Yap said that he is now negotiating for a “zero-percent” or “up to one-percent-interest loan” with a grace period of two years with the Land Bank of the Philippines and the Development Bank of the Philippines. This means that payment of the loan’s amortization will start on the third year yet.
“This is in consideration that the borrowers at this time of the pandemic could operate in a limited capacity or have stopped operation because of the preventive measures implemented all over the Philippines to limit the human interaction to contain the infection of Covid 19,” he said. The Bohol governor said that local businesses need the government’s support in their recovery from the coronavirus disease pandemic.
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