Easy access to financing for MSMEs pushed
PANAY NEWS
posted 26 September 2015
ILOILO City ? Mechanisms to make financial resources readily available for budding entrepreneurs must be established, officials of the Asia-Pacific Economic Cooperation (APEC) member-economies said.
Inaccessibility to financing is a major obstacle to the growth of micro, small and medium enterprises (MSMEs), they said.
One of such mechanisms is the ?livelihood seeding? program used after super typhoon ?Yolanda? (international name: Haiyan) struck in 2013, said Department of Trade and Industry (DTI) undersecretary Zenaida Maglaya.
Amid devastated infrastructure, livelihood and businesses in the affected areas, the Philippine government provided MSMEs some start-up capital through the program.
Financing packages or products and services should give MSMEs some financial support and guaranteed funds, participants in the APEC meetings on MSMEs here noted.