P3M GRANT TO FUND PROMOTIONS OF GREEN PRDUCTS

Posted by
/

By Katlene O. Cacho

Wednesday, August 15, 2012

THE German Federal Ministry for Economic Cooperation and Development will fund a new project that aims to push the creation of green products inCentral Visayas.

Volker Steigerwald, German Development Cooperation (Giz) manager for private sector promotion said the new project will be called the Promotion of Green Economic Development which aims to benefit the micro, small and medium enterprises (MSMEs) in the region.

He said this new project is in addition to the current technical assistance or the Private Sector Promotion Program (SMEDSEP) they extended to the SMEs in the Visayas in partnership with the Department of Trade and Industry (DTI), which is now on its third and final phase.

DTI-Cebu Provincial Director Nelia Navarro said the German Federal Ministry for Economic Cooperation and Development will initially grant P3 million to fund the project, which will be operational on January 2013.

Navarro said the three-year assistance will be piloted in Cebu and Bohol.

Profitable

DTI 7 Director Asteria Caberte said the DTI and GIZ have developed an MSME development strategy to strongly push for the creation of green products.

She emphasized that there is a market both local and international for businesses going the green production lane, citing Europe as one profitable market.

Caberte said that adopting green initiatives in production is already a requirement for some buyers.

“The huge global demand for green products is brought about by the awareness of many consumers on the deleterious effects of climate change and pollution,” she said.

Published in the Sun.Star Cebu newspaper on August 16, 2012.