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PIA Press Release

Feature: What is Project DRIVE?

Roxas City (20 November) -- The Project DRIVE or Dagdag Regular Income Via Entrepreneurship is a pro-poor government initiative to extend livelihood project to wives and immediate family members of drivers and conductors of Public Utility Vehicles (PUV) in response to the high price of oil.

President Gloria Macapagal–Arroyo recently launched the project in Malacañang as a realization of her pronouncement for the release of P500 million from Value Added Tax (VAT) revenues during the forum on Alternative Fuels for Public Transport Group held last July 16, 2008.

A Memorandum of Agreement (MOA) was signed by the Department of Social Welfare and Development (DSWD) and Department of Transportation and Communications (DOTC) to pursue the project.

The project entails the provision of no interest, no collateral capital assistance to some 95,000 target beneficiaries that will be adopting the Self Employment Assistance – Kaunlaran (SEA-K) scheme of the DSWD.

The DOTC is the lead agency for the project and will be responsible for the pre-identification of the beneficiaries while the Philippine Postal Savings Bank, will be the fund manager of the program, and the Presidential Management Staff is the oversight office for project DRIVE.

The capital assistance ranges from a minimum of P5,000 for individual or a maximum of P150,000 for an association with 30 members.

At present, the DSWD has partnered with LTFRB and the Office of Transport Cooperatives for the regional allocation of funds for the transport groups and cooperatives. (PIA) [top]

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