Trade dep’t to refer MSMEs to LANDBANK loan program – BusinessWorld Online
THE Department of Trade and Industry (DTI) said it is entering into a partnership with Landbank of the Philippines (LANDBANK) to provide capital to micro, small and medium enterprises (MSMEs).
In a statement on Thursday, the DTI said it will be identifying and endorsing eligible MSMEs for Landbank’s LIFTING MSMEs program, also known as Landbank’s Innovative Financing Thrust towards Inclusive National Growth through MSMEs.
“Programs like LIFTING MSMEs are so crucial. They bridge government support with the right financing instruments, unlocking private sector innovation,” Trade Undersecretary Blesila A. Lantayona said.
“In doing so, we give MSMEs the breathing space to grow, innovate, and withstand crises from typhoons to pandemics while continuing to create jobs and keep local economies alive,” she added.
The program aims to help business grow their operations and strengthen their competitiveness, which will allow them to contribute more effectively to the economy.
Apart from the endorsements, the DTI will also collaborate with LANDBANK on the design and delivery of capacity-building activities.
“(This will) ensure that endorsed MSMEs are ready for financing and can achieve long-term sustainability,” the DTI said. — Justine Irish D. Tabile