To help in rebuilding the key business hub in Mindanao, the Small Business Corporation (SB Corp) remains committed to providing assistance through loans to Marawi City’s internally displaced persons (IDPs) and uniformed personnel who were either killed or wounded during the 2017’s five-month siege.
SB Corp Chairman and Trade Secretary Ramon Lopez said extending loan assistance to IDPs is one key component in helping Marawi’s entrepreneurs regain their business acumen and recuperate from their loss.
“In line with President Rodrigo Duterte’s promise to continue the programs helping our kababayan in Marawi, especially those who have been affected by the siege, DTI will ensure that entrepreneurs will be back on their feet. Our goal is to bring back the vibrant business of the city, as well as provide jobs and livelihood to Maranaos,” said Sec. Lopez.
SB Corp., the financing arm of the Department of Trade and Industry, has provided livelihood assistance to at least 457 Marawi entrepreneurs with loan total amounting to P7,595,000 under the administration’s landmark program Pondo sa Pagbabago at Pag-asenso (P3) Program. Loan beneficiaries has availed loan amounts ranging from P10,000 to P20,000.
The loan assistance follows Administrative Order No. 03 of the President, mandating the creation of an inter-agency task force that would implement the recovery, reconstruction, and rehabilitation of Marawi City and provide livelihood to IDPs in Marawi City and other affected localities.
Similarly, the SB Corp also extended assistance to wounded and deceased government uniformed personnel under its special program for the Wounded-and-Killed in Action (WIA-KIA), an offshoot program to help soldiers and policemen who were either killed or wounded during the Marawi conflict, also from the P3 program.
As of 18 October 2019, 402 uniformed personnel has availed of the loan assistance, amounting to P30,921,500. Beneficiaries has availed loan amounts ranging from P40,000 to P100,000
The agency has earmarked P50 million for lending under P3-Marawi and KIA-WIA Financing Programs.
The DTI leads the Task Force Bangon Marawi (TFBM) subcommittee on business and livelihood (SC-BL) and tasked with fast-tracking the recovery and rehabilitation of business in Marawi City.♦