LINGAYEN- The provincial government is on a roll. It has been cited for the second consecutive year as the “Most Outstanding Local Government Unit in support of the Credit Surety Fund.”

After all, the Pangasinan Credit Surety Fund (PCSF) has a trust fund worth

P22.6-million pooled from the contributions of the donor institutions.

For this feat, the Bangko Sentral ng Pilipinas (BSP) presented the award instituted in partnership with the Land Bank of the Philippines, the Development Bank of the Philippines, the Industrial Guarantee Loan Fund of the Central Bank and credit cooperative banks.

Provincial Administrator Rafael Baraan, representing Gov. Amado T. Espino, received the award last July 14.

The Espino administration initially donated P10 million to the credit surety fund when it was introduced to the province by the BSP in May 2011, making the province the highest contributor to CSF.

The PCSF has 18 member-cooperatives and lists the Albacopa Federation of Cooperatives in Alcala town as highest trust fund contributior amounting to P1.6 million.

The Biba-Diwa MPC in Malasiqui and San Gabriel Segundo MPC in Bayambang also contributed P1.1 million and P1 million respectively.

Baraan said that the trust fund serves as collateral and any member-cooperative can avail of loan up to ten times its paid contribution with minimal interest.

A total of P91.2-million loan exposure is now helping micro, small, and medium enterprises (MSMEs)–particularly related to palay and corn production and trading and piggery-owners in the province, he said.

He said that the program has “an ambitious goal of making all households as independent production units” and added that an increase in PCSF membership and support from the LGUs will benefit more people.

Some 4,000 families have already benefited from the PCSF. (Johanne R. Macob)

Back to Homepage

Share your Comments or Reactions

comments

Powered by Facebook Comments