The Development Bank of the Philippines (DBP) and the Department of Trade and Industry (DTI) Regions VI and XI have forged an agreement for the implementation of the Adopt a Negosyo Center Program in Iloilo and Davao which is aimed at addressing the medium and long term needs of micro, small and medium enterprises (MSMEs) to enable them to further grow and achieve their potentials.
The memoranda of agreement signed by DBP and DTI aim to provide a framework of cooperation and coordination between the bank and the Negosyo Centers in providing assistance to MSMEs under the jurisdiction of the concerned Negosyo Centers.
The Adopt a Negosyo Center program institutionalizes a mechanism of cooperation and shared responsibility among the various partners of the Negosyo Centers. A Negosyo Center aims to serve as a one stop shop wherein MSMEs can access financing, knowledge, and other services to promote their sustained growth. DBP is committed to participate in the conduct of financial literacy forums for SMEs, including knowledge dissemination on the loan application process and requirements. Other partners will provide assistance in their areas of competency.
While the Negosyo Centers promote ease of doing business and improving access to services for MSMEs, they are also envisioned to serve as platforms towards national development, inclusive growth, and poverty reduction inasmuch as MSMEs are recognized as facilitators of local job creation, production, and trade in the country.
The Davao City and Iloilo City Negosyo Centers are therefore expected to be vital instruments in spurring a more vibrant local economy and fostering greater financial inclusion. Aside from the two main Negosyo Centers, DBP is also committed to cooperate and provide assistance to other Negosyo Centers already established nationwide.