MANILA -- The Department of Trade and Industry (DTI) will roll out more livelihood starter kits for residents of war-ravaged Marawi City, following the Department of Budget and Management’s (DBM) approval of PHP872.7 million in funding under the government’s Bangon Marawi program.
On Monday, the DTI awarded 500 livelihood kit certificates to internally displaced persons (IDPs) in Marawi. The certificates, worth PHP15,000 each, can be used to claim their business starter kits -- be it sewing machines, carinderia, sari-sari store, carpentry tools, delivery trucks, and mobile rice mills among others, Trade Secretary Ramon Lopez said.
The new batch of starter kits will also include tricycle and pedicabs for the transportation needs in Marawi. The DTI had released early this year 756 livelihood certificates for 300 sewing machines, 20 carinderias, 20 carpentry tools, 11 delivery trucks, and five mobile rice mills.
“President Rodrigo Roa Duterte wants to ensure that government support continue and DTI must help revive business and livelihood in Marawi City, he said.
"We will not stop until this city restores its vibrant trade and Industry,” Lopez said.
The head of Task Force Bangon Marawi’s sub-committee on business and livelihood further noted that with the newly approved fund, DTI can bring quality Maranao products in Go Lokal! Stores in Metro Manila and in 12 key cities nationwide, where the government will shoulder the rental for mall spaces.
The rehabilitation funding for Bangon Marawi is sourced from the National Disaster Risk Reduction and Management Council’s (NDRRMC) budget. On top of the Bangon Marawi funding for DTI’s initiatives, Lopez said the agency is rolling out its micro loan program, Pondo sa Pagbabago at Pag-asenso or the P3 Program for IDPs in the area.
He said the DTI, through its financing arm Small Business Corp., has already released about PHP5 million to 364 microloan borrowers. The P3 Program is DTI's microfinance program that charges a mere 2.5 percent per month for the borrowers, much lower than loans being offered by bigger banks and loan sharks, such as the “5-6” lending scheme. (PNA)
