Loren Legarda calls for increased aid for MSMEs, to address Poverty and Unemployment

Senatorial Candidate, Loren Legarda, has called for continued efforts to increase the support provided to Micro, Small, and Medium Enterprises (MSMEs) to include local entrepreneurs and indigenous communities. To ensure that more groups and individuals benefit from government programs that seek to alleviate poverty and promote economic growth.

“Let us continue to expand the scope of our assistance, especially in areas with high poverty incidence so that we can open up more opportunities for them. Our workforce is slowly recovering as the economy reopened. However, the fact remains that the problem of unemployment is one of the major problems that need to be addressed urgently. Providing viable employment alternatives will strongly complement the effort to generate jobs and help address the lingering unemployment problems in the country even worsened by the pandemic and occurrence of disasters,” Legarda said.

To address these issues, Legarda has clamored for the promotion and improved implementation of the MSME Law (RA 9501) and the Barangay Skills Training and Livelihood Act (RA 9509). Legarda is also known as the author and sponsor for both these laws during her term as Senator.

“For many years, MSMEs serve as the backbone of our economy and, given sufficient attention and support, this sector will no doubt accelerate socio-economic empowerment of various sectors in the society, including women, youth, and indigenous communities. We have to strengthen efforts in generating more jobs and strengthening employment creation, facilitation, and enhancement for our growing population,” Legarda stressed.

Additionally, Legarda calls for a heightened information campaign on the existing government programs. She notes that accessing such support should be streamlined, to aid the beneficiaries to receive the assistance they require without the burden of an arduous application process.

“I call for massive information dissemination so that those in the grassroots would know that the government does have the resources and mechanisms in place. We have to ensure that those in the grassroots also and actually benefit from the government’s efforts to provide basic services as well as improve the welfare and well-being of our people while promoting the country’s culture, heritage, artistry, and craftsmanship,” Legarda said.

Apart from the arts and crafts fair facilitated in partnership with the Department of Trade and Industry the Department of Labor and Employment’s Integrated Livelihood and Emergency Program assists small businesses and cooperatives. Furthermore, Legarda encourages MSMEs to avail of the COVID-19 Assistance to Restart Enterprises (CARE) Program of the Small Business Corporation (SBCorp); a P1 billion rehabilitation financing under the Pondo sa Pagbabago at Pag-asenso (P3).

“MSME programs are viable platforms for generating employment opportunities and better incomes for the Filipino people. Thus, amid this pandemic, we must ensure that our MSMEs are provided with the financial and technical assistance to ensure their survival. We have to continuously empower them in order to unlock more markets, enhance products, develop more businesses, and strengthen the protection and sustainability of our livelihoods,” Legarda concluded.