SMEs in Cagayan de Oro, Iligan cities to receive assistance

MANILA, Philippines—The Department of Trade and Industry (DTI) is providing assistance to the small and medium enterprises that were badly affected by tropical storm “Sendong,” which flooded the cities of Iligan and Cagayan de Oro in December.

In an interview over Radyo ng Bayan, DTI Director Thelma Dumpit Murillo said that based on the report of DTI Region 10 Assistant Director Linda Boniao, damage to the food processing and construction industries in these areas reached P100 million.

Boniao disclosed that the food processing industry in Cagayan de Oro City was hardest hit by the typhoon, completely destroying several factory plants and equipment and facilities of major food processors in the city. Among those hardly hit were Pines TGO Foods and Darling Foods, producers of processed meat such as ham, hotdog and sausage.

Meanwhile, in Iligan City, Boniao reported that vehicles and heavy equipment of construction companies were swept away to the sea by flood waters.

As such, the DTI Region 10 has begun coordinating with the Department of Science and Technology (DoST) and Small Business Corp. (SB Corp.) to assist SMEs in the acquisition of new equipment and to provide them access to loans for repair of their facilities.

The amount of damage reported was only partial as of Wednesday, and possibly will increase after DTI officials have assessed all the affected SMEs in the region.

The flashfloods left a death toll of more than 1,260 and P1.3-billion in damage to agriculture and property in Mindanao.