P3 program gets add’l ₱100-M fund from DTI

📆 12/22/2019 1:10 AM
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The Department of Trade and Industry (DTI) has renewed its partnership with micro finance firm Center for Agriculture and Rural Development (CARD), Inc., which committed an additional ₱100 million of its fund for Pondo sa Pagbabago at Pag-asenso (P3) program.

The additional ₱100-million fund, which was sealed in a Memorandum of Understanding signed recently, has CARD’s total revolving fund for the P3 program since the partnership began in 2017 to ₱300 million.

The program, managed by Small Business Corporation , is a response to President Rodrigo Duterte’s directive to combat 5-6 loans. Trade Secretary Ramon Lopez said that DTI benefits from the partnership since CARD supplements the ₱3.5 billion P3 allocation from the government with their own funds.

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