11519 or “An Act Extending the Availability of Appropriations of Bayanihan 2” was signed into law on December 29, 2020 and is valid until June 30, 2021to ensure the continuity and implementation of response measures in Bayanihan 1, which granted loans to micro, small and medium enterprises (MSMEs). Republic Act No. 11534 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE).
Ultimately, financial fragility arises because of the lack of resilience. And resilience exists because it is actively looked for, not by waiting for a crisis to happen so that it can be addressed directly but by being front-footed, learning from history, and acting systematically and with urgency.