The Department of Trade and Industry (DTI) is working on a plan that will provide livelihood support to micro, small and medium enterprises (MSMEs), according to DTI Secretary Ramon Lopez.
Lopez told reporters the DTI is also eyeing to tap the microlending program of the SB Corp. for tourism establishments like resorts.
Lopez said SB Corp. would initially allocate P200 million for the program, but would be augmented by unused funds for tourism projects under the COVID Assistance to Restart Enterprises.
The Livelihood Seeding Program (LSP) has kicked off in Siargao on Wednesday where the DTI offered livelihood assistance to around 2,000 MSMEs.
About P20 million will be allocated for LSP Negosyo sa Barangay.
“We are currently assessing MSMEs affected in other affected provinces and municipalities.
While the priority now is for relief and rehabilitation, we have prepared the LSP to jumpstart the livelihood of affected MSMEs,” Lopez said.
Lopez’ next stop was in Palawan yesterday The grant will be in kind.
The program entails the provision of P8,000 to P10,000 worth of products or equipment used in their livelihood, merchandise facilities, utensils and other tools of trade.
“For house materials, those affected by Odette can get support from Department of Human Settlements and Urban Development and the National Housing Authority while for food relief, they can get from the Department of Social Welfare and Development. MSMEs get LSP from DTI and resorts can borrow from the SB Corp. CARES program,” Lopez said.
