Capitol releases P1.1 million soft loan to women
LINGAYEN–To save farmers and other poor sectors from the clutches of loan sharks, the provincial government has been offering loans with minimal interest rates as part of the livelihood assistance program.
In December, more than P1.1 worth of livelihood assistance were given to nine women cooperatives.
Governor Amado T. Espino Jr., who personally turned over the cheques, said the amount was a soft-loan assistance to the women cooperatives released through the Provincial Population Office under the province’s Livelihood Assistance Program.
Ellsworth G. Gonzales, Population Program Officer II of the PPO, said the loan assistance will bolster the enterprising ventures of various women’s groups in the province to make them productive partners of the provincial government in transforming every Pangasinense to be self-reliant.
With an interest rate of four percent every six months, the amount can be used to fund income-generating projects identified by the members of the cooperatives themselves.
A rebate of 2.5 percent will be given to cooperatives that pay their loans before the due date.
The payment strategy scheme, he said, has encouraged the beneficiaries to become responsible borrowers.
Espino said most of the recent recipient cooperatives agreed to use the amount to fund goat-raising projects.
The recipients were San Pascual women’s multi-purpose cooperative; Payar women’s association; Primicias women’s association; Palacpalac multi-purpose cooperative; Amamperez women’s association; Quintinians multi-purpose cooperative; St. Paschal Baylon multi-purpose cooperative; Don Montano Garments Craft Association, Inc; and Five kids food products. (PIO/Darwin Magalong)
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