Banks told to provide more loans to education sector

 

By Rose de la Cruz

 

Iligan City Rep.  Frederick Siao urged the Bangko Sentral to encourage private banks to extend more loans to the educational sector, which compared to car loans is a pittance.

 

Last January, loans extended by the banking sector to the educational institutions reached P32.8 billion while those for motor vehicles was a hefty P262.8 billion, said Siao.

 

Preliminary figures for February 2018 showed loans to the education sector of P33.75 billion compared to car loans of P266 billion.

 

He said the lack of finances available to Philippine education caused the sector to lag behind even with its neighbors in Southeast Asia. Our schools have very limited resources and get very little financial support from the local banking sector, he said.

 

He said 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. Huge capital outlays can be funded by education bonds, he said.

 

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.

 

 

 

 

 

 

Like us in Facebook

facebook like box joomla

Features

Latest News

Empowering MSMEs in Dinagat Island province

  By Rose de la Cruz   Bangko Sentral ng Pilipinas is soon signing a memorandum of agreement with the local officials of the island province of... Read More...
Empowering MSMEs in Dinagat Island province

  By Rose de la Cruz   Bangko Sentral ng Pilipinas is soon signing a memorandum of agreement with the local officials of the island province of... Read More...
Bong still unsure of Senate run

Should he stay or should he go?  This is the question that Special Assistant to the President Christopher “Bong” Go is trying to answer and... Read More...
IMAGE In the know: Solar Philippines

Solar Philippines is currently the country’s – and Southeast Asia’s – largest solar-energy company. Founded in August 2013 by Leandro... Read More...
Wrong Dream Girl and Other Laughs

Wrong Dream GirlA FROG telephones the Psychic Hotline. His Personal Psychic Advisor tells him, "You are going to meet a beautiful young girl who will... Read More...
Confession Code and other laughs

Confession Code AN old priest who became sick of all the people in his parish who kept confessing to adultery said one Sunday, in the pulpit,"If I... Read More...
IMAGE PAGIGING MAKABAYAN

KAMAKAILAN ay tumawag ng atensyon ang plano ni Sen. Manny Pacquiao na maghain ng panukalang batas na naglalayon na isama bilang bahagi ng curriculum... Read More...
IMAGE PUTULIN ANG MONOPOLYO NG MERALCO!

SUPORTADO nang ibat-ibang consumer group kabilang na ang Institute for Consumer Research and Empowerment (ICORE) ang panukalang dapat putulin na ang... Read More...

Our Guests

Today609
Yesterday820
This week3861
This month14949
Total1053695

Visitor Info

  • Your IP: 54.166.141.69

Who Is Online

22
Online

Friday, 21 September 2018
© 2016 OpinYon News Magazine Online. All Rights Reserved.

Please publish modules in offcanvas position.