State-owned Development Bank of the Philippines (DBP) recently inaugurated a business assistance center aimed at serving micro-entrepreneurs in Lanao del Norte as part of its continuing efforts to assist the enterprising poor in remote areas in Mindanao.
DBP president and CEO Reynaldo David said the business assistance center, to be managed by the Unlad Kabayan Migrant Services Foundation (Unlad Kabayan), will bring microfinance services to the enterprising poor in three municipalities -- Linamon, Matungao, and Pantao Ragat in Lanao de Norte, one of the 30 poorest provinces in the country.
The business assistance center will help in the planning and implementation of viable livelihood projects for micro, small and medium enterprises in the target areas. It will also assist micro-entrepreneurs in education and training, as well as in the setting-up of community meetings and social dialogues to strengthen relationships between microenterprises in the province. The business assistance center also received an initial funding support of P200,000 from DBP to jumpstart its operations.
DBP had previously granted a P10 million credit line to Unlad Kabayan to finance its various savings and enterprise development programs for returning migrant workers and micro-entrepreneurs in Mindanao. The said group has developed innovative mechanisms to generate savings from OFWs, and transform these savings into capital funds to provide credit facilities to its members. The foundation also provides credit assistance to migrant workers and other enterprise development services such as crafting of business feasibility plans. Aside from Lanao del Norte, Unlad Kabayan serves micro-entrepreneurs in Surigao del Sur, Surigao del Norte, Compostela Valley, and Bukidnon.
|
