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Manila Bulletin devider Business devider Trade & Industry devider Gov't secures $3 million to develop SME export program

Gov't secures $3 million to develop SME export program

Published Jul 24, 2026 05:21 pm
(Unsplash)
(Unsplash)

The government is now ready to begin laying the groundwork for a program aimed at strengthening the export potential of small and medium-sized enterprises (SMEs) after securing more than $3 million, or roughly ₱185 million, in funding from international development banks.

The Department of Finance (DOF) last Thursday, July 23, exchanged the letter agreement for the Grant Facility for Project Preparation (GFPP), worth $1.2 million, with the World Bank for the SME Compete+ program.

It also secured funding of €1.8 million, or around $2 million, from the German government, through KfW Development Bank, to support the project’s development.

DOF Secretary Frederick Go said the GFPP will finance the establishment of a dedicated project management office, the conduct of diagnostic and capacity assessments, and the identification of potential beneficiaries and service providers for the program.

“These are the foundations of a program that is well designed, evidence-based, and responsive to the needs of Filipino entrepreneurs and enterprises,” he said.

To be implemented by the Department of Trade and Industry (DTI), SME Compete+ is designed to address the persistent challenges faced by SMEs in the country.

The program aims to help address the challenges faced by SMEs, including limited productivity, low participation in export markets, and barriers to integrating into global and local value chains.

These challenges, according to the DTI, often stem from gaps in business and technical skills, restricted access to long-term finance, and insufficient market intelligence and connections.

“The project recognizes that supporting SMEs to overcome these obstacles is essential for job creation, export growth, and inclusive prosperity,” the DTI said.

In particular, SME Compete+ aims to boost the competitiveness of participating SMEs by facilitating capability upgrading and enhancing their access to market connections.

Through a combination of investment financing, quality certification, and digital platforms, the program seeks to help SMEs export and integrate into value chains.

DTI-Export Marketing Bureau (EMB) Director Bianca Sykimte said the program stands to benefit both SME exporters and suppliers, empowering them to contribute more effectively to the country’s economic growth.

“[The program] looks at the specific performance and the business development plan of these SMEs, and the government is going to co-finance their growth,” Sykimte told reporters.

“We’re still working on the operations panel, but it’s going to be a mix of a grant and/or a loan to finance whatever business plan that these companies have,” she added.

Sykimte said securing the GFPP allows the DTI to prepare for the proper implementation of the project through the end of next year.

The DTI plans to secure at least $305 million in funding to kick-start the program in 2028. The program is expected to be implemented over five years.

Related Tags

Department of Trade and Industry (DTI) Department of Finance (DOF)
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