THE Asean Business Advisory Council (ABAC) urged the government to slowly shift the fund for conditional cash transfer (CCT) gradually to micro, small and medium enterprises (MSMEs), ABAC Chairman Joey Concepcion said on Wednesday. “We are asking the government that part of CCT could slowly shift some of that money to MSMEs not giving them the money but lending them the money, you can still charge them interest, but make it collateral free,” Concepcion said during the The Alliance Towards Prosperity For All press conference. Earlier, Concepcion said that CCT does not teach people to work for their daily needs. Meanwhile, Concepcion started an alliance with the country’s business chambers to formulate programs in creating prosperity for the MSMEs, after the Prosperity For All Summit on April 28. However, Concepcion said: “Through this initiative, we are creating a stronger alliance to fight poverty by empowering micro and small entrepreneurs.”

Source: Manila Times May 10, 2017 17:48 UTC