Government financial institutions (GFIs) involved in the SME Unified Lending Opportunities for National Growth (SULONG) programme will provide financing to the government's One Town-One Product (OTOP) programme. The latter involves the development and promotion of a product or service where a town has competitive advantage.
This is in support of the Medium Term Philippine Development Plan, Small Business Guarantee and Finance Corp. (SB Corp.) chairman and chief executive Zorayda Amelia C. Alonzo said.
"We will be the financing arm. Those enterprises qualified to borrow and have access to financing will be attended to by SB Corp. Other participants of the SULONG programme will be supporting it. We are hoping that the commercial banks will be supportive if the projects are really feasible," Ms. Alonzo said.
