Marawi entreps, soldiers to benefit from P3 program's PHP100M loan allocation
|DTI Secretary Ramon M. Lopez encourages the attendees of the Marawi Entrepreneurship and Job Fair to take advantage of the microfinancing programs of the government and private sectors.|
The Department of Trade and Industry (DTI) offered microfinance solutions amounting to PHP100M to Internally Displaced People (IDPs) during the Marawi Entrepreneurship and Job Fair held last July 16 at the Mindanao State University main campus in Marawi City.
DTI invited Marawi entrepreneurs to take advantage of the Pondo sa Pagbabago at Pag-asenso Program (P3), a microfinance program for micro-entrepreneurs with loans as low as P5,000. P3 was established by President Rodrigo Roa Duterte to combat the prevalence of 5-6 lenders who offer interest as high as 20% per month.
Under the P3 Program, DTI allotted PHP 50 million for IDPs and another P50 M for wounded soldiers and families of soldiers killed during the Marawi siege. Of these amounts, P5.28 M has been loaned to 364 IDPs and PHP 11.96 million has been released to 167 soldiers and/or their families.
Date of release: 20 July 2018