DBP Launches SPEED Project for SMEs
DBP(Development Bank of the Philippines),in collaboration with various government and private institutions, aimed at encouraging the growth and
developmlaunched the Sustainable Partnership for Energizing Entrepreneurship
Development (SPEED) project of the micro, small, and medium enterprises.
“The SPEED project is DBP’s response to the challenges facing the
entrepreneurial poor. Through SPEED, we aim to help them uplift
themselves, strengthen their capacities to create wealth for the
nation, and contribute to Philippine development. With SPEED, DBP hopes
to break barriers, to reach out, to further empower,” President
Reynaldo G. David said. “Beyond financing, this is DBP’s effort to help
micro SMEs in a more integrated and complete way,” he added.
The SPEED Project is designed to further empower Filipino entrepreneurs
by providing them with more convenient and efficient access to market,
information, technology research and development, and credit and
technical assistance. An important element of this project is the
establishment of Business Assistance Centers (BAC) in key pilot areas
in Luzon, Visayas and Mindanao. These centers will be a one-stop shop
for SMEs, offering support services such as e-services, business
counseling, project development, and financial advisory under one roof.
The project was launched with partner organizations such as the
Department of Trade and Industry (DTI), Department of Science and
Technology (DOST), the Medium and Small-Scale Industries Coordinated
Action Program II (MASICAP) Development Foundation Inc., and the
Alliance of Philippine Partners in Enterprise Development (APPEND).
Educational institutions currently involved in the project are the
Benguet State University, Mariano Marcos State University, Pampanga
Agricultural College, Camarines Sur State Agricultural College, Aklan
State University, Central Philippine University, and the Foundation
University.
The project is also in support of the administration’s thrust of
sustaining 3 million entrepreneurs by 2010. With the government
earmarking P10 billion for the micro and SME sector, the SPEED project
is expected to accelerate efficiency in the delivery of credit and
technical assistance to micro and SMEs.
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