FIFTY-five community-based groups and seven micro, small and medium enterprises (MSMEs) received on Monday a total of P10.4 million from the provincial government ‘s Livelihood Assistance Program (LAP).

The LAP, one of the provincial governments’ poverty reduction program, is a non-collateral credit facility supervised by the Provincial Population Cooperative and Livelihood Development Office (PPCLDO) to help improve the socio-economic status of community-based groups and individual entrepreneurs accredited by the Department of Trade and Industry (DTI).

The program provided zero interest rate to beneficiaries. (Before the pandemic, the program offered a very minimal interest of four percent).

Beneficiaries may avail of a loan from P100,000 to P250,000 depending on the type of their projects.

Based on the record, a total of P205.9 million has been released since 2008. The latest distribution is the biggest amount released and number of beneficiaries.

During the distribution, Governor Amado Espino III commended the good return of investment of the program and disclosed that another five cycles will be added to further support the beneficiaries in their investment schemes.

Qualified community based groups’ projects include farm inputs, re-lending, commodity trading while for MSMEs, the type of projects vary from bread and pastry production, fish processing, banana chips-making, oyster mushroom production, dishwashing liquid production, and buy and sell of prawns and crabs. (PIA Pangasinan- EMSA)

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