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DTI financing arm slightly exceeds P8 1 billion lending provision for MSMEs

DTI financing arm slightly exceeds P8 1 billion lending provision for MSMEs
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Loans OK’d for COVID-19 hit MSMEs reach P6 7 billion

Over P6.7 billion worth of loans aimed at assisting micro, small and medium enterprises affected by the COVID-19 pandemic have been approved, according to the financing arm of the Department of Trade and Industry.

DTI eyes to tweak definition of MSMEs amid digitalization

REDEFINING MSMEs. Trade Secretary Alfredo Pascual delivers his speech at the launch of the Philippine Fintech Festival and SME Financial Empowerment Program at Shangri-La The Fort Manila in Taguig City on Friday (Aug. 12, 2022). Pascual shared the agency's initiative to tweak the classification of micro, small and medium enterprises amid changes in business operations due to digitalization. (PNA photo by Kris Crismundo) MANILA - Department of Trade and Industry (DTI) Secretary Alfredo Pascual said there is an ongoing initiative to tweak the definition of micro, small and medium enterprises (MSMEs) amid changes in the way entrepreneurs do business because of digitalization. "We are trying to come up with a better way of defining MSMEs," Pascual said at the launch of the Philippine Fintech Festival and SME Financial Empowerment Program in Taguig City on Friday. He said as entrepreneurs embrace digital technology, they could now do business with fewer people and could operat

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