DTI rolls out some R1 billion in livelihood financing for Marawi

The Department of Trade and Industry (DTI) has started rolling out about a billion pesos in livelihood, market access and financing as part of its contribution for the “Bangon Marawi” efforts to bring immediate relief to the internally displaced persons (IDPs) that also include micro entrepreneurs.

Secretary Ramon M. Lopez told reporters that total DTI assistance would amount to R942.5 million that will impact on the lives of 17,650 Marawi beneficiaries, who are part of the IDPs of Marawi City due to the five-month-old war against the terror Maute group.

Of this amount, R151.5 million would go to livelihood assistance benefitting 2,700 people, R591 million in market access with 4,450 beneficiaries, and R200 million in financing for 10,500 beneficiaries.

Lopez said they are already rolling out R41 million from its current budget so Marawi IDPs can immediately start rebuilding their small businesses.

The R151.5-million livelihood assistance fund will go into the provision of mobile rice mill, mini-trucks for delivery, sewing machines, starter kits for micro businesses such as baking and barbecue ventures, and share equipment for woodcraft and food processing. These activities will benefit 2,700 Marawi residents.

The R591-million market access fund will be used for the rehabilitation of 5 public markets inside Marawi at a cost of R100 million each and rehabilitation of 12 public markets at a cost of R36 million around Marawi. This will give access to market to some 3,200 market vendors and traders to sell their products and goods.

Some R45 million will also be used for the market rentals for 1,000 vendors to be able to sell their products. The fund would also include R10 million for rental for 5 bulk space in 5 areas in Metro Manila that will showcase Marawi products.

At least 250 beneficiaries of this bulk space stores have been identified. The market access component will have a total of 4,450 beneficiaries.

Another R100 million have been allotted for the financing of some 10,000 individual market sellers or micro enterprises.

The SB Corp Guarantee Fund for Business is also allocating R100 million to 500 beneficiaries for borrowers for restaurants, drugstores, gas stations convenience stores, sari- sari stores.

Had it not for public markets, the DTI projects under its supervision will only have R331 million. Lopez said that DTI will rollout R41 million from its current budget to provide immediate relief to Marawi IDPs.