LINGAYEN– Twenty-three multi-purpose cooperatives (MPC) and three micro, small and medium enterprises (MSME), comprising 913 individual beneficiaries, received their 6^th allotments for livelihood assistance last week.

The Php 3.345 million worth of livelihood assistance were distributed by Governor Amado Espino III at the Urduja House.

Espino said his administration is committed to sustain the Livelihood Assistance Program (LAP), the flagship poverty-reduction program initiated by former governor and now Congressman Amado T. Espino, Jr. of the 5^th district, to boost efforts of the local entrepreneurs.

Ellsworth Gonzales, OIC- Provincial Population Office, said the supervised credit program enjoys a high loan repayment rate of 94 percent due to the early payment rebate system.

Gonzales said paying at least a day ahead of the cycle deadline allows beneficiaries to enjoy a low interest rate of 1.5 percent instead of regular 4 percent.

Though a “non-collateral loan” policy, LAP participating MPC or MSME must be duly registered with the Department of Trade and Industry, an existing business in operation and a current market.

Aside from consistent monitoring of the recipients, LAP also provides trainings on organizational and financial management for the beneficiaries, to name a few.

“We are capacitating them to help them become as transparent as possible to ensure sustainability of the program. From the start, the former and the present governors want the beneficiaries to be self-sustaining and be independent of assistance,” Gonzales said.

The total amount of livelihood assistance distributed since LAP’s inception has reached almost Php 78 million. (PIO)

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