State-owned Philippine Guarantee Corporation (PHILGUARANTEE) has approved a total of PhP37.5 Billion in credit guarantee facilities for 22 accredited banks, as of June 30, 2020. This is in line with the Agency’s key assistance role of encouraging the banking sector to continue lending to the Micro, Small and Medium Enterprise (MSME) sector under the government’s economic recovery program due to the COVID-19 pandemic.