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Article: SPAV will generate P100-B investments; BAP supports bill.(Business)
- Article from:
- Manila Bulletin
- Article date:
- March 6, 2002
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The Bankers Association of the Philippines (BAP) yesterday said the proposed Special Purpose Asset Vehicles Act of 2002 has the potential to revive businesses, create thousands of jobs and raise at least P100 billion in immediate foreign investments.
BAP Executive Director Leonilo Coronel said it would strengthen the banking system by solving the huge problem of non-performing loans (NPLs) and make more money available for lending to small and big businesses.
"This bill will convert a problem into a solution," he said.
"It will benefit the government, banks, foreign investors, the private sector and people who stand to gain the most through ...