BAGUIO CITY – The Department of Trade and Industry in the Cordillera Administrative Region (DTI-CAR) has released PHP184.6 million under its Covid-19 (coronavirus disease 2019) Assistance to Restart Enterprises (CARES) program to help 15,567 micro, small and medium enterprises (MSMEs) in the region.
Myrna Pablo, regional director of DTI-CAR, on Tuesday said all provinces in the region have availed of the assistance. Around PHP70 million was released under the CARES program to beneficiaries in Benguet province thru the agency’s soft loan program released thru the Small Business Corporation (SBC). The loan has zero interest and payable in three years.
“The country is still in a pandemic and the market remains unstable that is why DTI has extended the repayment policy to three years from only one year at the start of the program in 2020,” she said.