DTI rolls out new loans, livelihood support for ‘Yolanda’-hit areas

TACLOBAN CITY, Jan. 10 (PNA) -– The Department of Trade and Industry (DTI) will roll out this year the multi-million funds for loans of businesses still reeling from the impacts of super typhoon Yolanda and livelihood support of poor families.

DTI Eastern Visayas Regional Director Cynthia Nierras said on Tuesday that the central government released on Dec. 6, 2016 the PHP929 million fresh funds for Yolanda-hit areas in central Philippines.

A big chunk of the outlay is intended for the region’s four provinces – Leyte, Samar, Eastern Samar, and Biliran.

The DTI-Small Business Corporation credit risk guarantee fund got the biggest share of new releases at PHP750 million. Livelihood projects and DTI office repair got an allotment of PHP143.91 million and PHP35 million, respectively.

“This is mainly for affected enterprises who took them long to make a decision that they need loans,” Nierras said.

About PHP50 million is intended for livelihood seeding program, covering 64 Yolanda-hit cities and towns in Eastern Visayas.

“We have been working with local government units to identify the recipients and validate their names,” she added.

About 1,000 beneficiaries are dwellers of permanent relocation sites in the northern part of the city, according to DTI.

“The money is there, but we have to complete all requirements to use the funds. Other agencies under Yolanda livelihood cluster can request for funds from DTI for their livelihood programs,” Nierras explained.

Last year, the National Disaster Risk Reduction Management Council (NDRRMC) has recommended the release of PHP928.91 million budget for projects of the Department of Trade and Industry (DTI) in areas pummeled by super typhoon Yolanda.

The fresh funding is under the 2016 Yolanda Rehabilitation and Reconstruction Program prepared by then Office of the Presidential Assistant for Rehabilitation and Recovery together with the National Economic Development Authority, the agency tasked to monitory post-Yolanda recovery projects. (PNA)
LAP/SARWELL Q. MENIANO