LINGAYEN — At least 23,000 poor families have already benefited from the livelihood program launched by the provincial government since year 2008.

The Provincial Population Office (PPO) that implements the program said the family beneficiaries are members of some 200 community organizations and cooperatives in the province.

Ellsworth Gonzales, provincial population officer, said the program has so far loaned out a total of P95 million for livelihood projects.

The latest beneficiaries were 16 associations from different towns that were extended loan assistance of P100,000 each to finance their respective projects last October 24.

Gonzales said the loan assistance program has registered a repayment rate of 95 percent, which is high for a government loan assistance program.

It means the various projects funded by the program have been successful as the loans were paid after six months to one year.

The associations that managed to pay their loans days and weeks before the due dates were given rebates.

“We help associations prepare feasibility studies for their respective projects if they have none,” he said.

Some of the borrowers embarked on commodity trading, Others went to hog production, goat and vegetable raising and others.

Gonzales said the program requires no collateral and pegs 1.5 percent interest rate.

The program was first implemented during the administration of then Governor and now Fifth District Congressman Amado Espino III in 2008. (Leonardo Micua)

Share your Comments or Reactions

comments

Powered by Facebook Comments