Available funding worth P1 to P3 bn will support the small- and medium-sized enterprises (SME) sector next year. SMEs comprise 99% of the economy. Francisco R. Floro, chairman of the SME committee of the Philippine Chamber of Commerce and Industry (PCCI), said the fund would seek to improve the SMEs' competitiveness and as assistance for start-ups. The PCCI fund is an improvement of the government's SME Unified Lending Opportunities for National Growth, or SULONG, which provides financing only to established SMEs. The fund will come from the International Guaranty Loan Fund of the World Bank. State-owned Development Bank of the Philippines would be the fund's trustee. Mr. Floro said a portion of the fund will be for guarantees and another portion for lending. For his part, PCCI President Donald G.
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