PH gov't eyes additional funds to help MSMEs after lockdown

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The Philippine government is looking at an additional P30 to P80 billion to help revive micro, small, and medium enterprises after the implementation of the enhanced community quarantine.

Trade Secretary Ramon Lopez said that the Department of Trade and Industry is proposing the inclusion of the amount in the economic stimulus package being readied in Congress to augment the agency’s budget for its microfinancing program for MSMEs affected by the coronavirus disease 2019 crisis.

Lopez is referring to the P1 billion enterprise rehabilitation financing facility of the DTI’s Small Business Corporation that will allow MSMEs to avail of low-interest loans to help them restart their businesses after the lockdown. “Ngayon aside from that P1 billion, we are working another budget na para mapalaki ‘yung amount na ito kasi ‘yung 1 billion maliit kumpara sa number of MSMEs na mangangailangan. So in the economic stimulus package na inaayos po ngayon sa Kongreso ay mayroon pong mga proposal doon na madagdagan ng ilan pang billion, maybe 30 billion to 80 billion pesos para ho sa micro SMEs,” Lopez said in a meeting in Malacanang Tuesday.

“Nakipag-usap din po kami sa DOF at Land Bank na ang sabi po ay puwede ring humiram doon si Small Business Corporation para pampondo sa micro SMEs,” he said.

 

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They seek Additional funds? They have yet to show the public an audit where the multi billion emergency funds have been used. 🤷🏻‍♂️

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