Thursday 19 October 2017

DTI: We will provide P943 Million livelihood assistance for Marawi

Rebuilding of Marawi city just got more traction.

Few days after the President declared the liberation of Marawi and the smoke from the battlefield are settling, government is already mobilizing for the rebuilding of the war torn city. The fighting has left the city literally in ruins, and there is no way for it to be rebuilt without the direct intervention of the government- considering there are so many factors to be considered.

Department of Trade and Industry (DTI) , through its hard working Secretary Ramon Lopez, has provided some P942.5 million worth of livelihood assistance for the internally displaced persons (IDPs) in Marawi City.   *

Department of Trade and Industry Secretary Ramon Lopez (photo credit to UNTV)

During the sidelines of the 43rd Philippine Business Conference and Expo Thursday, Lopez said that the amount alloted by DTI will benefit some 17,650 IDPs.

DTI will provide IDPs with P151.5 million worth of equipment’s such as mobile rice mill, mini-trucks for delivery hauling and sewing machines. For those IDPs, who would like to kick start their businesses immediately, DTI will also provide with shared equipment for woodcraft, food processing, and agro-industrial business, as well as starter kits for cooking, baking, and barbeque business.

There are some 2,7000 individuals already identified beneficiaries for the livelihood equiptments.

DTI likewise offered financing for IDPs from its Pondo para Pagbabago at Pag-asenso, or P3 fund, by providing PHP10,000 each to 10,000 small scale businesses.

Under the P3, DTI disbursed PHP100 million financing support.

Another PHP100-million worth of financing support was provided by DTI through its financing arm Small Business (SB) Corp.

SB Corp provides bigger amount of loans to IDPs, particularly those who have business like restaurant, drug stores, gas stations, convenience stores, among others.
For its financing support, DTI was able to help 10,500 beneficiaries -- 10,000 through P3 and 500 through SB Corp.

About 4,450 beneficiaries were also given market access by DTI with the help of other government agencies and the private sector. *

This includes rehabilitation of five public markets inside Marawi City worth PHP500 million; and 12 public markets around Marawi worth PHP36 million; space rental in 50 public markets in key cities with expenses reaching PHP45 million; and five Bangon Marawi stores in Metro Manila worth PHP10 million.

A total of PHP591 million was spent to provide market access to Maranaw entrepreneurs.
Lopez noted that of the total amount, some PHP331 million came directly from DTI’s budget.
Report form (DTI provides P943-M livelihood assistance for Marawi)
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