P9-M loans given to Region 8 MSMEs


The Department of Science and Technology (DOST) had provided P9 million in loans to 19 micro small and medium enterprises (MSMEs) in Eastern Visayas, or Region 8 provinces.

Under the Small Enterprise Technology Upgrading Program (Set-up),
DOST Research Specialist Caesar Roderick Tado said that the project is focused on helping provincial enterprises to advance their technology.

“Set-up is not about funds, it’s about technology. Funding is an effect of the technology that they will adopt or infuse in their businesses,” he said.

Besides granting businesses loans, the Set-up project will include deployment of DOST personnel to check the beneficiaries and determine appropriate technology for the improvement of their production capability, sales and even employment generation.

The P9-million technological fund will go to Biliran with P711,000 share, Southern Leyte with P1.1 million, Northern Samar with P1 million, Samar province with P396,000 and Eastern Samar with P146,930.

The DOST budget allotment for the Set-up program totaled to P21 million for 40 projects this year.

Tado said that there are 21 proposals seeking approval for funds for businesses in Eastern Visayas.

He added that the Set-up program is focused on granting funds and developing technologies of industries such as food, native and indigenous handicrafts, metals, furniture-making, aquaculture and horticulture.

In 2012, the DOST released a total of P13.6 million for 32 projects in Eastern Visayas.

Kristyn Nika M. Lazo


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