BMBE Update 2017
DAO No 17-03 outlines the revised guidelines for managing the BMBE Development Fund. These guidelines follow Section 10 of Republic Act 9178. This act is also known as the Barangay Micro Business Enterprises Act of 2002.
The revised guidelines offer a structured approach for effective fund administration and utilization. They aim to support the growth and sustainability of Barangay Micro Business Enterprises (BMBEs) in the Philippines.
These guidelines provide a comprehensive set of procedures for administering the BMBE Development Fund. They facilitate the allocation, disbursement, and monitoring of financial resources. The primary goal is to ensure BMBEs receive necessary support. This support enhances their business operations, promotes local economic development, and creates employment opportunities within communities.
The revised guidelines emphasize transparency and accountability in the management of the fund.
They include detailed criteria for eligibility, ensuring that only qualified BMBEs can access financial assistance. The guidelines also outline the application process, specifying the required documentation and the evaluation criteria for approving funding requests. By establishing clear standards, the guidelines aim to prevent misuse of funds and guarantee that the support reaches the intended beneficiaries.
Additionally, the guidelines mandate regular monitoring and evaluation of funded projects.
This involves periodic reporting by BMBEs on the use of the funds and the progress of their business activities.
The implementing agencies will conduct site visits and assessments to verify the proper utilization of resources and measure the impact of the financial assistance provided.
Training and capacity-building programs form a crucial part of the revised guidelines. These programs aim to equip BMBEs with the necessary skills and knowledge to effectively manage their businesses and maximize the benefits of the development fund. The guidelines encourage collaboration with local government units, non-governmental organizations, and private sector partners to deliver these programs and ensure comprehensive support for BMBEs.
In summary, DAO No 17-03 provides a robust framework for the administration of the BMBE Development Fund, focusing on transparency, accountability, and capacity-building to foster the growth of micro enterprises in the Philippines.
Source : DTI
