P17.7-B allocated to support PH tourism infra dev’t: DBM Finance firm eyes 10M customer base this year

Officials of consumer finance company Home Credit Philippines (HCPH) are optimistic about increasing the number of its customer base to 10 million this year, as they bank on the recovery of demand from the pandemic.

The company hit a milestone last year when its customer base reached 9.3 million after it expanded its services to more lifestyle segments and categories.

In a briefing to celebrate the company’s 10th year of operations in the country Thursday, HCPH chief executive officer (CEO) David Minol said they want more Filipinos to benefit from its offerings .

“More than delivering innovative and accessible financial services, we celebrate the relationships we have built with our stakeholders and customers over the past decade, and this we choose to continue above the beyond,” he said.

In a reply to questions from the Philippine News Agency, the company said it is hopeful to hit 10 million customers this year also “because of the continued strong demand from customers across the Philippines.”

Atotalof PHP17.7 billion has been allocated in this year’s national budget to fund the Tourism Road Infrastructure Program (TRIP), the Department of Budget and Management (DBM) announced Thursday.

While inflation remains high and among drags to spending, along with the rise of interest rates, HCPH said it “provide(s) opportunities for people to afford their needed products by allowing them to pay reasonable down payment and flexible payment terms to help them manage their funds.”

Asked about the rate of default among its borrowers, the company said “we maintain a healthy NPL (non-performing loan) ratio given our responsible lending practices.”

“We at Home Credit observed an improved loan payment behavior of Filipinos in the past 10 years,” it added.

HCPH chief customer relations management (CRM) officer Petr Lukosz said their cash loan offering is among the products targeted to help Filipinos become more financially capable.

“We pride this product as the most flexible cash loan offering in the market, tailored fit to customers’ needs, and having the fastest approval and disbursement in one minute,” he added.

In a press release, the DBM said this amount is PHP602 million higher than the PHP17.087 billion from last year’s budget.

DBM Secretary Amenah Pangandaman emphasized the importance of providing funding support to vital infrastructure projects, which serve as the backbone of the economy.

“President Ferdinand R. Marcos Jr. has been very consistent with his pronouncements that infrastructure development is a priority under this administration.

And so we, at DBM, shall do all we can to support the realization of this objective. And so we ensured that various infrastructure projects nationwide are allocated with necessary funds to support the Build, Better, More program,” she said.

Pangandaman pointed out that “mobility and connectivity” are vital components in tourism development.

“The Philippines has so many majestic places. But how will we attract tourists if there is no transport infrastructure in place to get them to these destinations with ease?” she added.

TRIP is a convergence initiative of the Department of Public Works and Highways (DPWH) and the Department of Tourism (DOT).

The budgetary allocation is also in line with the DOT’s National Tourism Development Plan, which envisions a globally competitive, environmentally sustainable and socially responsible tourism industry that promotes inclusive growth through employment generation and equitable distribution of income.

The funds will be used for the construction, reconstruction, upgrading and improvement of FP17.7-B, P10

Lanao Norte weavers urged to grow as country’s major textile producers

Community weavers in Lanao del Norte province are encouraged to become major producers of Meranaw cultural textiles in the country.

In a statement Thursday, Governor Imelda Quibranza-Dimaporo called on members of women livelihood organizations in the province to become more productive in creating traditional fabrics.

“There are many (suppliers) who look for high-quality Meranaw fabrics around the country and I hope that these beneficiaries will become one of the major manufacturers,” she said.

The Department of Trade and Industry in Northern Mindanao (DTI-10) is continuously assisting the weavers by handing over sewing machines and equipment to produce quality Meranaw wearables and handicrafts.

On Monday, the DTI under its Shared Service Facility (SSF) provided 10 sewing machines, two cloth cutting machines, and three sequencing and cutting tables worth PHP452,000 to the Pangutaman Women’s Association and the Islahiyyah Women’s Associa-

The name Dwight Filley Davis Sr. may not ring a bell to most people but to tennis aficio-nados he is remembered as the tennis player who founded in 1900 the Davis Cup, a global tilt that has so far produced a doubles champion for the Philippines. He was also the country’s American governor-general (1929-32) after leaving his position as the US secretary of war.

As the country’s American administrator, Davis, along with son and namesake, visited Davao in 1930 as part of his familiarization tour of the colony. It was deemed a pioneering trip for a government executive like him. At the time, the American Chamber of Commerce Journal reported in its September 1930 edition, Davao district was described as having “an area of 7,574 square miles, 4,847,185 acres, with 16