Pres. Duterte Allocates P1-Billion For Micro-Entrepreneurs to Counter the 5-6 Lending Scheme


President Rodrigo Duterte really loves the poor Filipinos as he ordered the Department of Budget and Management (DBM) to allocate P1-billion of his Presidential Funds which was transferred through Department of Trade (DTI) to lend out to the micro-entrepreneurs.



The announcement of the P1-billion allocation for micro-entrepreneurs for the year 2017 from the Presidential Funds was announced by DTI Secretary Ramon Lopez during a gathering at the Rizal Hall, Malacañan Palace, on December 19, 2016.

Pres. Duterte's P1-billion fund for micro-entrepreneurs is just a start of his administration's plans of lending out a total of P19-billion to micro-entrepreneurs per region.

Watch the Announcement of the P1-Billion Project for Micro-Entrepreneurs:



The funds will be used by small farmers, market vendors and any other start-ups, which aims to kill the "5-6" money lending system in the Philippines, one of Pres. Duterte's campaign promise.

During the campaign period, the former Mayor of Davao City he warned that loan sharks or those lending money under the popular 5-6 scheme would not be allowed to operate under his administration.

During a previous announcement made by the DTI, they noted that the Duterte Project it will be called "Pondo Para sa Pagbabago at Pag-asenso."


Pres. Duterte Allocates P1-Billion For Micro-Entrepreneurs to Counter the 5-6 Lending Scheme Pres. Duterte Allocates P1-Billion For Micro-Entrepreneurs to Counter the 5-6 Lending Scheme Reviewed by Phil Newsome on 12/20/2016 Rating: 5

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