The partnership will support DTI’s E-Transport Loan Program, helping transport operators, cooperatives and other enterprises secure funding to shift from gas-powered vehicles to EVs.
Ma. Cristina Roque
“Today’s MoU creates a vital bridge for Filipino enterprises to access the right capital they need to grow and compete,” said Trade Secretary Ma. Cristina Roque to Manila Times.
“We need other banks to help assist SBCorp because it only has limited funds.”
PVB’s financing complements the Small Business Corporation’s (SBCorp) PHP 12 billion in loans allocated for MSMEs this year.
Roque said partnerships with additional banks would let DTI serve larger businesses, encourage more operators to adopt EVs, and keep borrowing costs as low as possible.
At the ceremonial signing, Roque said financing must be paired with digitalisation, mentoring and market access to help MSMEs expand, Context.ph wrote.
DTI plans to tap its 18 regional offices and its nationwide network of Negosyo Centers to encourage more businesses to adopt digital platforms and e-commerce.
She also urged smaller businesses not yet ready to export to join the supply chains of established exporters, particularly in agriculture, as a stepping stone toward entering international markets.
The partnership follows a pattern of DTI expanding its financing options through bank partnerships beyond SBCorp’s own lending capacity, including a PHP 4 billion MSME Business Fund DTI launched earlier this year and a separate MOU with Security Bank, MUFG and Thailand’s Krungsri to support cross-border startup growth.
