Capitol to allot another P100M in second round of Sugbo Negosyo

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TO help more Cebuano entrepreneurs recover from the effects of the coronavirus disease 2019 (Covid-19) pandemic, the Cebu Provincial Government is planning to allocate another P100 million for the second round of the Sugbo Negosyo program.

“We are already planning for the next round (of Sugbo Negosyo). Another hundred million will be poured, atong ibubo sa ekonomiya sa Probinsya sa Sugbo,” Governor Gwendolyn Garcia said on March 24, 2021.

The provincial government is tentatively looking at July for the second round of the program.

The first round, which kicked off in December 2020, is about to end, according to Sugbo News. About 98.73 percent of the P100-million allocation has already been disbursed as of March 24, 2021.

READ: ‘Sugbo Negosyo’ takes off

The provincial government said that beneficiaries of the Sugbo Negosyo have until March 31, 2021 to withdraw their coupons. Instead of cash, they were given digital vouchers to purchase goods and materials.

The Sugbo Negosyo core group is now focused on “accrediting the legitimate, reputable, and credible suppliers or merchants.”

Sugbo (Sustainable Upliftment and Growth through Business Opportunities) Negosyo is an economic assistance program of the Cebu Provincial Government designed to fund micro and small businesses that have suffered losses due to the pandemic.

Garcia is spearheading the full-grant program in partnership with the Department of Trade and Industry and the Mandaue Chamber of Commerce and Industry. (NRC)