Meanwhile, loans to enterprises reached P13.6 billion, growing by 17 times since we started monitoring from the effectivity of BSP Memorandum No. M-2020–046 on 29 May 2020. To address concerns about loan defaults, credit and debt collection, we have extended for another 30 days grace period for loan payments the 30-day grace period under Bayanihan 1.
While we don't get the final investment figures for 2017 until later this morning, we estimate that over the past year, non-mining business investment increased by around 9 per cent. This is stronger than we were expecting a year ago and would be the largest increase since the onset of the global financial crisis. We expect to see further growth over this year.