LEGAZPI CITY —- The Department of Trade and Industry (DTI) is promoting in Bicol its Small Micro Credit Enterprise (SMCE), a seven-year micro finance project being funded by International Fund for Agriculture Development (IFAD).

        DTI Bicol Regional Director Jocelyn LB. Blanco urged all financial institutions (banks and credit cooperatives) in the region to make financing available in the rural and urban areas.

        “Our goal is to expand small enterprise through rural micro finance,” she said.

        “Registered cooperatives or associations especially those engaged in agriculture are encouraged to avail of the credit finance project and expand their rural micro enterprise,” she added.

        Blanco explained that credit support is needed in order to sustain small business enterprise in the countryside.

        In the Bicol region, the provinces of Albay, Sorsogon, Masbate, Catanduanes and Camarines Sur have been identified to implement Small Micro Credit Enterprise.

        “Development and expansion of small business enterprise are encouraged in order to serve the poorest of the poor in these five provinces,” Blanco said.

        She noted that micro-credit facility is also being offered through Development Bank of the Philippines (DBP) under the One-Town One-Product (OTOP) program.

        “The year 2008 is an opportunity to small entrepreneurs to expand their business and develop new local products,” she added.