Duterte to launch P3 in Tacloban City

BORONGAN CITY -- In compliance of President Duterte’s directive to uplift the economy and to give an affordable micro financing to small and medium entrepreneurs (SMEs), the government’s program called Pondo sa Pagbabago at Pag-asenso (P3) are set to be launched together with the President’s visit to Tacloban City, on Wednesday, January 25.

According to Department of Trade and Industry-Eastern Samar Provincial Office Director Nathaniel Fabillar, P3 will be implemented first in three provinces of the country as pilot provinces: Leyte, particularly in Tacloban City, Occidental Mindoro, and Saranggani.

After the launching, this program will be implemented in provinces which are selected as poorest provinces. In Region VIII, four provinces are beneficiaries of this program. Aside from Leyte, the provinces of Eastern Samar, Northern Samar, and Samar are also beneficiaries of this project.

Fabillar said, the one who will implement this program is not DTI but its attached agency called Small Business Corporation (SBC). In Tacloban, the SBC will set up an office in the Tacloban City Public Market and will be managed by three staff assigned as collection officer, credit investigation (CI), and the one who will handle the project itself as project officer. It will be replicated once it is implemented in the other provinces.

The target beneficiaries of the said lending are business owners in market — who are original businessmen, SMEs, has an good credit line, in good standing, DTI registered, and have a business permit.

The maximum loanable amount is P175,000, minimum is P5,000 with a 26 percent interest per annum. (PIA)