Over a year after the guns fell silent in Marawi City, the Department of Trade and Industry (DTI) has continued to provide livelihood assistance for families and individuals whose lives were turned upside down by the months-long fighting.
The Small Business (SB) Corp. said disbursement of the P100 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, has earmarked P50 million each for IDPs and government troops wounded and killed in action.
Data from the SB Corp. showed that as of Oct.21, it has rolled out some P6.16 million to 422 Maranao entrepreneurs as loans under the Pondo sa Pag-asenso at Pagbabago or the P3 Program.
Some P6.16 million to 422 Maranao entrepreneurs have been rolled out as loans under the Pondo sa Pag-asenso at Pagbabago or the P3 Program.
Maranao entrepreneurs were able to secure loans amounting to between P10,000 and P20,000 each to rebuild their businesses.
For beneficiaries of crippled and fallen soldiers, the SB Corp. has released a total of P16.53 million in P3 loans. Each beneficiary was able to get loans of between P40,000 and P100,000.
Under the P3 for Marawi victims, the DTI has 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.
“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.”
“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,” Lopez added.