Presidential Management Staff Secretary Cerge Remonde yesterday  said the government has P80 billion available for microfinance programs this year and is in need of partners for its dispersal.

Remonde was in Bacolod with Presidential Spokesman Anthony Golez and Noel Poso, vice president of theof the People’s Credit and Finance Corp., to talk about microfinance opportunities and entrepreneurshipwith the Citizens Movement for Good Government, a local group.

Last year the president designated Remonde the oversight official for micro, small and medium enterprise (MSME) development .

The administration is committed to provide 3 million entrepreneurs with sufficient credit to contribute to the generation of six to ten million jobs by 2010, he said.

From 2004 to 2008, a total of P213.77 billion was released to 3.76 million active microfinance clients and SME accounts generating about 2.18 million new jobs, he said.

Last year he said P54.52 billion was released to 1.15 million microfinance clients and SME accounts, with 677,281 new jobs generated, Remonde said.

About400,000 new jobs are estimated to have been created in Western Visayas through microfinance programs, 100,000 of which were in Negros Occidental, Poso said.

Micro finance was made available through local partners, including the Negros Women for Tomorrow Foundation, Poso added.

The repayment rate of microfinance loans is impressive, it has been within the range of 98 percentwith 92 percent of the borrowers being women, Remonde said.

The microfinance loans are made available to the people through localorganizations and rural banks, Remonde said.

And the President hasordered the lowering of the interest rates on the loans from 12 to 10 percent per annum, he said.

The MSME program is a priority program of the government, Remonde said.

We are generating jobs and creating products that are globally competitive, he pointed out.

“In time we hope to export more of these products so that we can keep more out workers here at home,” he said.

Remonde noted that Negros Occidental entrepreneurs have already been making dents in international markets.*CPG

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