Micro-finance benefits much from government attention – TSKI
The national government focus on micro-finance in the country widened the opportunity for non-bankable sectors to avail of bigger capital for their microenterprises.
Angelo Solarte, Deputy Executive Director of Taytay Sa Kauswagan, Inc. (TSKI), said President Gloria Arroyo in one of her State of the Nation Addresses before, focused on improving micro-finance that spurred opportunities for the self-employed and the micro-entrepreneurs to gain access to capital.
Solarte said with Arroyo’s emphasis on micro enterprise as backbone of the economy, the government financial institutions beefed up their support to the informal business sectors by making them bankable, capable of availing financial support to start up livelihood projects.
He said this move also capacitated the TSKI as a fund source for these non-bankable sectors because through their coordination with other government agencies, they were able to help much in sustaining small entrepreneurs.
“The microfinance institutions have gone into stiff competitions now, but this is also good for the clients, because they can have wider choice on fund providers,” Solarte said.
He said TSKI is an Ilonggo organization that has now spread all over the Philippines, pursuing along with government, the objectives of empowering the self-employed, source funds for them with the goal of putting more food on their tables, money in their pockets for better quality of life.
Solarte said he hoped the incoming administration will give micro-financing also a priority for the sector to sustain momentum. (PIA6/ESS)
