The Ministry of Trade, Investments and Tourism (MTIT) distributes P15 million worth of cash assistance for Micro, Small, and Medium Enterprises (MSMEs) that were affected by 2023 Typhoon Paeng during the 5th Bangsamoro Foundation Anniversary on January 23-25, 2024 held at the Bangsamoro Government Center (BGC) in Cotabato City. (Faisal Camsa/BIO)
COTABATO CITY—A total of 983 Micro, Small, and Medium Enterprises (MSMEs) affected by Typhoon Paeng received P15 million in cash aid from the Bangsamoro Government on January 23 to 25, 2024.
Through the Ministry of Trade, Investments, and Tourism (MTIT), the initiative aims to offer financial support to MSMEs with businesses partially or fully damaged by Typhoon Paeng, contributing to the recovery of the local Bangsamoro economy.
According to the validation and assessment conducted by the MTIT regional office, sari-sari stores and convenience stores were primarily affected.
During the distribution of livelihood assistance, MTIT’s Trade Industry Development Analyst Adnan Calim said the Government of the Day continues to assist local entrepreneurs in recovering from the impact of Typhoon Paeng.
“The recipients, whose businesses were destroyed by Typhoon Paeng, were identified and validated by officials before receiving the assistance,” Calim said.
He also reminded beneficiaries to utilize the assistance immediately for their business and not for leisure activities.
“It is essential to support MSMEs in fostering economic growth and sustainability within the region,” he added.
Meanwhile, Baika Ebus Sandukan, 67, owner of a mini sari-sari store in Mother Barangay Bagua, Cotabato City, received P15,000.00. She expressed gratitude, stating that the amount would increase her capital for livelihood.
“This amount is a huge help for people like me who have small businesses for additional capital,” Sandukan said.
“We thank the BARMM government for their support and continued programs to uplift our socio-economic status,” she added. (Johaira Sahidala/BIO)
