MANILA -- The Department of Trade and Industry (DTI) has provided some PHP942.5 million worth of livelihood assistance for internally displaced persons (IDPs) in Marawi City.
DTI Secretary Ramon Lopez told reporters on the sidelines of the 43rd Philippine Business Conference and Expo Thursday said amount had benefitted some 17,650 IDPs.
Lopez said about PHP151.5 million of livelihood assistance was directly funded by DTI, providing the IDPs with equipment such as mobile rice mill, mini-trucks for delivery hauling and sewing machines.
The DTI has also given IDPs, who would like to immediately return to businesses, with shared equipment for woodcraft, food processing, and agro-industrial business, as well as starter kits for cooking, baking, and barbeque business.
Some 2,700 beneficiaries received livelihood equipment from DTI. DTI likewise offered financing for IDPs from its Pondo para Pagbabago at Pag-asenso, or P3 fund, by providing PHP10,000 each to 10,000 small scale businesses.
Under the P3, DTI disbursed PHP100 million financing support. Another PHP100-million worth of financing support was provided by DTI through its financing arm Small Business (SB) Corp.
SB Corp provides bigger amount of loans to IDPs, particularly those who have business like restaurant, drug stores, gas stations, convenience stores, among others.
For its financing support, DTI was able to help 10,500 beneficiaries -- 10,000 through P3 and 500 through SB Corp.
About 4,450 beneficiaries were also given market access by DTI with the help of other government agencies and the private sector.
This includes rehabilitation of five public markets inside Marawi City worth PHP500 million; and 12 public markets around Marawi worth PHP36 million; space rental in 50 public markets in key cities with expenses reaching PHP45 million; and five Bangon Marawi stores in Metro Manila worth PHP10 million.
A total of PHP591 million was spent to provide market access to Maranaw entrepreneurs. Lopez noted that of the total amount, some PHP331 million came directly from DTI’s budget. (PNA)
