CAGAYAN DE ORO CITY: The Misamis Oriental provincial government has released PHP3.6 million in zero interest loans to 13 local entrepreneurs to boost economic recovery. The financial support is part of the Provincial Microfinance Unit-Livelihood for Economic Recovery and Acceleration Program (PMU-Leap), which supports micro, small and medium enterprises (MSMEs) with capital for business expansion.

According to Philippines News Agency, the loans provided range from PHP70,000 to PHP350,000, covering various livelihood industries across the province. Since its launch in 2023, PMU-Leap has distributed PHP42.2 million to MSMEs, underscoring the government’s commitment to economic empowerment at the grassroots level.

Governor Peter Unabia reported that more than 1,500 MSMEs have received training this year in partnership with the Department of Trade and Industry. Unabia underscored the importance of supporting MSMEs to reduce poverty and promote economic equality. “Poverty, for me, is a social inequality, not an
injustice. We all have the opportunity to be economically empowered,” he said.