MANILA CITY - If elected for his third and last term as Manila City mayor, Joseph Estrada has pledged to expand the local government's financial assistance for entrepreneurs in the city, a report by Manila Standard said.
Estrada wants to help all businesses through Capital Assistance Program (CAP), a fund for small-scale businesses of poor families in Manila city, to experience the city's continuous financial growth.
"We will give these small entrepreneurs a chance to grow their businesses, after all, they complement Manila’s economic growth,” Estrada said.
The incumbent mayor emphasized micro, small and medium enterprises serve as the backbone of the city government’s rapid progress.
Since the initiative's inception in 2013, the CAP has provided thousands of residents with startup capital ranging from P5,000 to P10,000.
Through this project, Manila Department of Social Welfare officer in charge Nanet Tayag said poor families earned additional income and helped send their children to school.
Between 2013 and 2019, the city government has already provided P90 million to over 20,000 beneficiaries under the Educational Assistance Program.
Manila's chief executive said the EAP shoulders some of the children's school expenses such as projects that will complete their academic requirements.