Saturday, January 05, 2008 Neda, DTI grant financial aid to SMEs By Joy Romares-Sevilla
THE National Economic and Development Authority (Neda) Southern Mindanao has granted P800,000 assistance for the industry cluster in Davao del Norte in 2007.
The assistance was under the Kennedy Round 2 (KR2) Grant assistance with a counterpart from the regional office of the Department of Trade and Industry (DTI) Southern Mindanao in the amount of P150,000.
The assistance, DTI 11 report said, was poured in for the cacao or Cocoa Processing Project with the CSI Trade Ventures and two other identified cooperative beneficiaries, namely: Mabuhay Farmers Multi-Purpose cooperative located in Dacudao, San Isidro, Davao del Norte; and the Mamangan Farmers' Cooperative in Mamangan, San Isidro.
DTI 11 Assistant Secretary Merly M. Cruz and Neda 11 Regional Director Nicasio Angelo J. Agustin conducted the turnover of the assistance.
DTI said that the activity was under the DTI's One Town One Product (Otop) Program strategy, which is to identify and implement programs to bridge financing needs of small and medium enterprises (SMEs).
Aside from the Neda's grant, three SMEs in the same province who were engaged in ticog mat weaving, has also been granted with a loan from the Seed Capital Assistance Program (Scap) for a total amount of P60,000 last 2007.
The Ticog products are identified as the Otop of New Corella in Davao del Norte.
DTI, as a member of the executive committee of the Scap Financing Program, facilitated the release of a total of P90,000 to farmers engaged in organic rice farming in Braulio E. Dujali. Organic rice was identified to be the Otop of the same municipality.
