DTI releases loan to Marawi siege soldiers, families

The Department of Trade and Industry (DTI) has released a total of Php 11.5 million interest-free loan assistance under the Pondo sa Pagbabago at Pag-asenso (P3) program to wounded in action (WIA) soldiers as well as families of those killed in action (KIA) during the Marawi siege.

The agency reported that 159 out of 186 approved loan applications have been released as of 31 July.

“DTI acknowledges the ultimate sacrifice made by our soldiers who fought and died during the Marawi siege. This 0 percent interest microfinance loan dedicated for them is just one of President Rodrigo Duterte’s ways to thank our heroes,” said Trade and Industry Secretary Ramon Lopez.

“We at DTI are very happy of the turnout. It shows that many of our soldiers will now be able to start their businesses and be part of the entrepreneurial revolution,” he added.

The total approved loan applications amounted to Php 13.4 million. Most of the loan applications came from WIA soldiers.

According to SB Corporation, DTI’s attached agency handling the P3 program, 111 of the 186 approved loan applications were from Marawi-residing soldiers and families. A total of Php 6.9 million were released to them.

Meanwhile, the agency has released Php 4.5 million to 64 non-Marawi based WIA and KIA soldiers and families.

In 13 February, DTI, in cooperation with the Department of National Defense (DND) and the Armed Forces of the Philippines (AFP), signed an equity and loan agreement with WIA soldiers and families of KIA.