THE Sangguniang Panlalawigan (SP) authorized Gov. Ramon Guico III to sign a Memorandum of Agreement (MOA) for the registration of the Pangasinan Credit Surety Fund (PCSF) with the Cooperative Development Authority (CDA).

The MOA that will be entered into by Pangasinan with the Bangko Sentral ng Pilipinas (BSP), the Land Bank of the Philippines (LBP), various cooperatives, and other stakeholders, will signal a strong commitment to foster a favorable environment for the growth of micro, small, and medium enterprises (MSMEs) in the province.

Republic Act No. 10744, also known as the Credit Surety Fund Cooperative Act of 2015, emphasizes the importance of promoting national development, inclusive growth, and poverty reduction through the support of MSMEs that drive local job creation, production, and trade.

With the MOA, cooperatives and the provincial government are in a strategic position to provide credit enhancement support to MSMEs, thereby encouraging banks to extend credit more widely across rural areas, fostering balanced and sustainable economic growth. (PangasinanPIO)

Share your Comments or Reactions

comments

Powered by Facebook Comments