Iloilo provincial government to release Php4.45-M to micro coops

• Source: http://www.pna.gov.ph/index.php?nid=2&rid=822741
• Tuesday, November 3, 2015

(PNA), FPV/PGL/PR/CBF

ILOILO CITY, Nov. 3 (PNA) --The Iloilo Provincial Cooperative Development Office (PCDO) is set to release Php4.45 million to 10 micro cooperatives by the end of November as part of its continuing program to support the cooperative movement.

Governor Arthur Defensor Sr., who was earlier recognized by the Cooperative Development Authority (CDA) for his “indefatigable contribution to the promotion of cooperativism” approved the release of the financial assistance.

According to PCDO Chief Atty. Arturo Cangrejo, the assistance is in a form of loan payable for three to five years with an interest of six percent per annum.

“This loan is under the Provincial Livelihood Program that aims to help cooperatives with good track record expand their existing businesses,” he said.

The following are the micro cooperatives benefiting from the loan:

LEPSTA- 1 Credit Cooperative of Leon (P500,000),

Kabalikat Multipurpose Cooperative of Bingawan (P300,000),

Barosbos, Cawayan, Guinticgan Credit Cooperative of Carles (P5oo,ooo),

DATEC Teachers and Employees Multipurpose Cooperative of Dingle (P500,000),

Dingle Multipurpose Cooperative of Dingle (P500,000)

Carles Municipal Employees Multipurpose Cooperative of Dingle (P500,000),

Tina Multipurpose Cooperative of Badiangan (P200,000),

ISCOF-San Enrique Teachers and Employees Multipurpose of San Enrique (P500,000),

Kapihan of Estancia Port Credit Cooperative of Estancia (P450,000) and

Batad Municipal Officials and Employees Multipurpose Cooperative of Batad (P500,000).

Mock cheques were turned over by PCDO to chairpersons of these cooperatives during the culminating activity of the 2015 Provincial Cooperative Month held in Pavia last October 30.

The Provincial Livelihood Program has an annual appropriation of P5-million and it has been institutionalized since the creation of PCDO on September 1993, a year after Defensor served as governor for the first time in Iloilo.

“I have extended my full support to the cooperative because I believe that, through it, we can attain development. Creating PCDO as a department in the provincial government was the first thing I did after election in 1992,” recalled Defensor.

His contributions to the promotion of cooperativism as a means of uplifting the social and economic conditions of its members and providing an enabling environment towards the growth of cooperative earned him an award from CDA.

CDA Chairperson Orlando Ravanera hailed Defensor and Governors Faustino Dy III of Isabela and Vilma Santos-Recto of Batangas during the celebration of cooperative’s centennial year on October 23, 2015 at Philippine Trade Training Center, Pasay City.