Aquino urges gov’t lenders to waive loan interest during Super El Niño

MANILA, Philippines — Senate trade and commerce panel chairperson Sen. Bam Aquino has urged government lending agencies to defer loan interest to small business owners from January to March 2027 amid the anticipated Super El Niño.

According to the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa), the Super El Niño is expected to peak in December 2026 and last through the first quarter of 2027.

“Now that Super El Niño is expected to result in an increase in the prices of commodities, electricity, petroleum products, and other essential goods, the income and livelihood of our small business owners, workers, and ordinary Filipinos will certainly be affected,” Aquino said on Tuesday.

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“It would be a great help to the affected sectors if the government did not charge interest on their loans until the situation returns to normal,” he added.

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Aquino encouraged the Government Service Insurance System, Social Security System, and Pag-IBIG Fund to waive fee collection not only for small businesses but also for ordinary workers and the middle class.

He asked the Small Business Corporation to do the same to ease the expenses of Micro, Small, and Medium Enterprises.

“If we temporarily stop charging interest on their loans, we can provide relief to our workers and middle class so that they can have additional income to meet their family needs in the face of high commodity prices,” he added./mcm