DTI LAUNCHES P3, NEW FINANCING OPPORTUNITIES IN MINDORO. The Department of Trade and Industry (DTI) Secretary Ramon Lopez officially launched the Pondo sa Pagbabago at Pag-asenso (P3) program on January 27 in San Jose, Occidental Mindoro. Secretary Lopez emphasized the thrust of President Rodrigo Roa Duterte’s administration to make more accessible microfinancing at lower cost, to replace the usurious 5-6 system. The program is part of the strategic efforts of the DTI to boost the development of the MSMEs, specifically market vendors, agri-businessmen and members of cooperatives who do not have easy access to these services. The launching of the P3 program brought together 15 Micro-Finance Institutions (MFIs) and 57 market vendor beneficiaries. Five of these MFIs, namely: Radiowealth Finance company, Inc., Center for Agriculture and Rural Development Inc., Tulay sa Pag-Unlad, Inc., Cebuana Lhuillier Finance Corporation, and Taytay sa Kauswagan, Inc., have signed a Memorandum of Agreement (MOA) for a nationwide partnership with the Small Business Corporation (SB Corp), the financing arm of DTI. (END)
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