Issue of May 14, 2017
     
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DTI to implement P3 program in Ifugao
by PIA Ifugao

LAGAWE, Ifugao – This province is set to implement the Pondo Para sa Pagbabago at Pag-asenso (P3) program of the government through the Department of Trade and Industry.

Julius Cruz from  the Small Business Corporation (SBC), DTI’s financing arm, said that the P3 is the Duterte administration’s program to provide an affordable micro-financing for the micro, small, and medium enterprises in the country.

The P3 funding program provides micro enterprises an alternative source of financing that is easy to access and made available at a reasonable cost and seen to replace the 5-6 money lending system.

It will also help stabilize supply and cost of commodities in public markets, encourage small entrepreneurs to grow their businesses, and offer employment and generate income for Filipinos.

The DTI also disclosed that P1 billion from the fund of the program will be coursed through SBC, which will accredit partner institutions such as non-banks, cooperatives and associations to serve as conduit for the P3 funds.

The SBC has the primary responsibility of implementing comprehensive policies and program to assist MSMEs in all areas, including but not limited to finance and information services, training, and marketing, anchored on the belief that the MSME sector should eventually grow and become the backbone of the Philippine economy.


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