SMEs in CDO, Iligan suffer P100M losses due to Sendong

Posted at 01/11/2012 6:56 PM | Updated as of 01/11/2012 6:59 PM

MANILA, Philippines - Storm damage to small and medium enterprises (SMEs) in Cagayan de Oro and Iligan has reached about P100 million, said the Department of Trade and Industry (DTI).

Tropical storm Sendong (international name Washi) battered southern Philippines last December, sending massive floods that swept away houses and drowned over a thousand people in their sleep.

DTI - Region 10 Assistant Director Linda Boniao said the food processing industry suffered the most damage in Cagayan de Oro, with several factory plants, equipment and facilities completely destroyed.

In Iligan, Boniao said vehicles and heavy equipment of construction companies were taken by flood waters to sea.

Boniao said DTI - Region 10 has coordinated with the Department of Science and Technology (DOST) and the Small Business Corp. to assist SMEs in acquisition of new equipment and to provide them access to loans to repair their facilities.

The amount of damage reported was only partial, and will possibly increase after authorities have assessed all the affected SMEs in the region, she added.

Based on the latest situational report by the National Risk Reduction and Management Council on Wednesday, Sendong affected a total of 120,233 families in Regions 6, 7, 9, 10 and 11, CARAGA and ARMM.

The death toll has climbed to 1,257, with over 6,000 people reported injured and 176 still missing.

Total damage to infrastructure and agriculture was estimated at P1.4 billion