THE Trade and Industry department will help small-scale enterprises in Boracay Island that will bear the brunt of the six-month closure of the tourist destination staring April 26.
It will ask P300 million from the government, Secretary Ramon Lopez said.
The amount will be taken from the P2-billion calamity fund that will be allotted for the rehabilitation of Boracay, said Lopez.
One of the department’s initiatives for small-time businesses is helping them locate to other areas, he said.
The department also considers partnering with mall operators to host native products, including souvenir items, Lopez added.
Moreover, Lopez said his agency will offer its microfinance program, Pondo para sa Pagbabago at Pag-asenso, to businesses in the island.
Business that will avail themselves of the program may acquire a loan with zero interest, he said. (PNA)
