Davao City—The City Government of Davao has for the third time released financial assistance to another batch of “Magnegosyo Ta ‘Day” program beneficiaries.
Mayor Sara Duterte led the distribution of loans to 27 enterprising women of Buhangin District, which totaled P225,000.
According to Astred Cajes, Livelihood Coordinator of the City Social Services and Development Office, 18 women were given P10,000 each, while nine beneficiaries were given P5,000 each.
The loans are payable for 12 to 24 months for P10,000 loans and 12 months for P5,000 loans, respectively, with zero interest rate.
“The beneficiaries were from Barangay Buhangin Proper, Acacia, Cabantian, Mandug, Indangan and Communal with livelihood projects such as garments making [bags, rugs, accessories], agro-forestry [vegetable production], trade and commerce [sari-sari store, buy and sell], butchering and junkshop business,” Cajes said.
Duterte said the program is intended to give extra income to women and to discourage them from patronizing lending schemes such as “5-6” from predatory lenders.
The first batch of women beneficiaries received assistance in February, while the second batch started receiving in March. The program targets to assist 1,200 women and has a P2.5-million budget.
“Those lending schemes will just make them sink even before they have started their business. With Magnegosyo Ta ‘Day, women will be taught with more than having business but how to keep it and make it successful,” she said.
Part of the Magnegosyo Ta ‘Day Program is the provision of training to women, so they can be equipped with basic entrepreneurial skills such as bookkeeping. The training will also help them determine the kind of business they should engage in, Duterte said.
“We are very grateful for this project because it has helped us in our respective businesses,” said Grace Mancenido of Barangay Mandug, one of the beneficiaries.
Magnegosyo ‘Ta Day is a program for women initiated by Mayor Inday to address the current gender inequality in the labor and economic sector in Davao City.
The Office of the City Mayor, the CSSDO, and the City Mayor’s Integrated Gender and Development Division identify and organize target-beneficiaries and handle the program orientation.