DTI, PAWN BROKERS CHAMBER DISCUSS POSSIBLE PARTNERSHIP FOR THE P3 MICRO-FINANCING PROGRAM. Trade Secretary Ramon Lopez (top: 4th from L) recently (9 May) discussed with the Chamber of Pawn Brokers of the Philippines (CPPI) possible opportunities to strengthen the distribution network of President Rodrigo Duterte's Pondo para sa Pagbabago at Pag-asenso (P3) Program. According to CPPI President Jean Henri Lhuillier (top: 5th from R), the Chamber is interested in supporting the P3 program by partnering as conduits. Sec. Lopez, on the other hand, expressed optimism on the partnership, which can further expand the program's network through pawnshops across the country. Small Business Corporation (SBCorp) President Brillo Reynes (top: leftmost) said that the P3 program is on-track, distributing P60 million funds in Mindoro alone. P3 is a microfinancing program that aims to end the usurious "5-6" scheme and help the micro, small and medium enterprises get easier access to financing services, providing non-collateral loan with small interest rate of 2.5% every month. Payments are also made easy and flexible as individuals can pay either weekly or monthly. Trade Undersecretary for Regional Operations Zenaida Maglaya (bottom: rightmost) and CPPI board members and officers were also present in the meeting.
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