MANILA — Over a year after the guns fell silent in Marawi City, the Department of Trade and Industry (DTI) continues to provide livelihood assistance for families and individuals whose lives were turned upside down by the months-long fighting.
In a statement Wednesday, the Small Business (SB) Corp. said disbursement of the PHP100-million budget for livelihood assistance to internally displaced persons (IDPs) and beneficiaries of wounded and killed government troops continue.
SB Corp., DTI’s financing arm, earmarked PHP50 million each for IDPs and government troops wounded and killed in action.
Data from the SB Corp. showed that as of Oct.21, it rolled out some PHP6.16 million to 422 Maranao entrepreneurs as loans under the Pondo sa Pag-asenso at Pagbabago or the P3 Program.
Maranao entrepreneurs were able to secure loans amounting to between PHP10,000 and PHP20,000 each to rebuild their businesses.
For beneficiaries of crippled and fallen troops, SB Corp. released a total of PHP16.53 million in P3 loans. Each beneficiary was able to get loans of between PHP40,000 and PHP100,000.
Under the P3 for Marawi victims, the DTI provided a special loan term with no yield among the borrowers.
“Access to zero-interest microfinancing is very important to entrepreneurs who are starting as well as those expanding their businesses. With the business seminars offered by DTI and the loan packages by SB Corp. for the affected families and residents, we’re speeding up the recovery of the city,” Trade Secretary Ramon Lopez said.
“We are giving our commitment to the IDPs that the administration of President Duterte will continue to seek ways in providing business and livelihood opportunities to help them and Marawi recover,” he added. (Kris Crismundo/PNA)
