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Friday, March 29, 2024

DTI offers loan to Taal victims

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The Trade Department is extending P50 million in microfinancing to business owners who were affected by Taal Volcano eruption.

Trade Secretary Ramon Lopez said the department was reaching out to entrepreneurs whose livelihood were affected by the calamity.

“We’re still doing the GVA [gross value added] impact. But as of this morning’s meeting. We have agreed to provide P50 million from the Pondo sa Pagbabago at Pag-Asenso program to those who are rebuilding or those who want to relocate their businesses,” he said Thursday at the sidelines of the inaugural meeting of the Management Association of the Philippines.

The DTI estimated that about 40 percent of businesses in and around the affected areas stopped operating while 60 percent remained open for business.

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“While other enterprises continue to operate, some companies have suspended operation for several 

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