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DTI distributes livelihood packages, extends 0%-interest microfinance loans to Marawi IDPs

DTI livelihood packages

February 2, 2018

ILIGAN – The Department of Trade and Industry (DTI) awarded 1,500 livelihood packages as well as 0%-interest microfinance loans to the internally displaced people (IDP) of the Marawi siege during the DTI Negosyo Seminar Para sa Marawi on 30 January 2018.

“We want to assure the IDPs that President Duterte’s administration continues to provide more business and livelihood opportunities through the DTI Negosyo Seminars being given to help them recover soon,” said DTI Secretary Ramon Lopez.

There were 1,500 participants and beneficiaries who attended the Negosyo Seminar. One of them was Mr. Alikman Nata, who intends to share the benefits of the livelihood package to his group, the Lanao Muslim Youth Association.

As the head of Bangon Marawi’s Subcommittee in Business and Livelihood, DTI had earlier distributed 588 livelihood packages and conducted Negosyo trainings to 1,963 IDPs as of December 2017. There were also 240 beneficiaries who were linked to financial institutions.

The Department also allocated P50 million this year to fund the Shared Service Facilities (SSF), providing Maranao entrepreneurs with facilities and knowledge that match their business needs. This is apart from the budget provision to support other Bangon Marawi programs in providing mobile rice mills, tricycles, vehicles, and the construction of public markets.

DTI flew in different business experts to teach business preparedness, opportunities spotting, product development and marketing, financial literacy, and franchising.

The beneficiaries were likewise briefed on the microfinancing loan programs of the government through the Small Business Corporation (SB Corp.), which developed a special 0%-interest microloan program for Marawi IDPs. This program has a grace period to help in the quick recovery of the IDPs. It started last December 2017 and has benefitted a total of 229 borrowers.

During the acceptance and distribution of transitory shelter units by Task Force Bangon Marawi (TFBM) with President Rodrigo Roa Duterte in Brgy. Sagonsongan, Marawi City, Sec. Lopez turned over the 0%-interest microfinance loan from SB Corp. to 150 beneficiaries, where 95 of them are public market vendors. The beneficiaries were represented by Ms. Rocaya Macabantog, Mr. Abbas Inidal, Mr. Allan Carimbaran, Mr. Acadon Macapundag, and Mr. Cosain Solaiman.

The 0%-interest microfinance loan program for the 150 beneficiaries amounted to P2.19 million. This is a part of the P100 million-fund under the Pondo sa Pagbabago at Pag-asenso (P3) loans allocated for Marawi entrepreneurs by SB Corp, an attached agency of DTI.