The United States has extended a total of one-billion peso (US$18 million)-worth of partnership assistance to the Philippines for the span of five years to help the country’s SMEs transition to mature in the e-commerce industry.
The United States has extended a total of $18 million worth of partnership assistance to the Philippines for the span of five years to help the country’s small and medium enterprises transition to mature in the e-commerce industry.
It will be done by improving SMEs’ capacity to adopt digital technologies; supporting the integration of SMEs and e-commerce platforms in logistical supply chains; increasing the use of e-payment systems and other fintech innovations; and strengthening consumer awareness and protection.SPEED supports the US government’s goal to help the Philippines develop a robust, secure, and resilient digital economy as a key to drive post-pandemic recovery and long-term economic growth for the country.
“As we all know, COVID-19 has fundamentally altered the way we do things, accelerating the shift toward e-commerce, digital platforms, and the digital economy of the post-pandemic world,” she said. “We aim to enable MSMEs to embrace digital transformation. This way, I believe DTI and USAID’s directions to enhance SME capacities align,” he added.
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