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Palawan Capitol’s credit assistance program reaps success

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The credit assistance program of the Palawan provincial government has been successful so far, the Capitol’s cooperative development unit said.

“Maganda ang naging bunga ng programang pagpapautang ng Pamahalaang Panlalawigan ng Palawan sa mga aktibong kooperatiba bilang isa sa mga hakbang sa pagpapaunlad ng kilusang kooperatiba sa lalawigan,” the provincial government said.

“Ayon sa Provincial Cooperative Development Office, naging matagumpay ang credit assistance program na kanilang itinataguyod at iginagawad sa mga aktibong kooperatiba sa kadahilanang ito ay nakatulong bilang dagdag-puhunan sa pagpapatakbo ng kanilang mga negosyo,” it added.

The Capitol said that the program served as an instrument to bring more income to the cooperatives that are beneficiaries of the program thereby creating more jobs.

“The economic contribution of PCDO credit-assisted cooperatives were generated in terms of employment and income where an average of four (4) staff per cooperative received salaries/honoraria/incentives at an average of not less than Php. 5,000.00/month each which will bring to a total of about P8.0 Million income computed to 32 coops with outstanding loans to the office,” the province said.

“It also encourages and facilitate self-help among beneficiaries through their active and involved participation in defining goals, devising means contributing to costs, and implementing and managing projects,” it added.

The credit program is “non-interests bearing loans” and they need to pay it for 20 months.

“Ang halaga ay idedeposito sa isang “trust fund” at sa pamamagitan ng “roll-over scheme” ay ipapahiram naman sa iba pang kwalipikadong kooperatiba,” said the province.

It noted that the Provincial Cooperative Development Office has 95% loan collection efficiency.