Sunday, May 18, 2008 Coop releases P1M to micro-business beneficiaries
CITY OF SAN FERNANDO -- The Provincial Cooperative and Entrepreneurial Development Office (PCedo) here said it has released P1.045 million to 209 direct beneficiaries as additional capital for micro-business programs.
The amount was part of the P7.15 million under the Angat Buhay and Abe programs. ABE Kaunlaran (ABE-K) Program is a community-based credit assistance program utilizing people's organizations to be uniformly called ABE Kaunlaran Associations (AKA) as credit conduits.
The program is highlighted by its feature of savings mobilization, concept of self-management and sustainability. The concept was first developed by Professor Yunus of Bangladesh (the Grameen Bank Approach) who paved the way for the Modified Grameen Bank Scheme where ABK-E was patterned.
Under the said programs, individuals and organizations are given the chance to engage in medium scale micro-business programs. The PCedo is optimistic that in a span of three to five years, beneficiaries would to reap the benefits of engaging in the said program.
Among the associations that facilitated the identification of beneficiaries include the Solib ABE Kaunlaran Association (P150,000) with 30 beneficiaries, Masantol ABE Kaunlaran Association (P150,000) with 30 beneficiaries, Masaya ABE Kaunlaran Association (P70,000) with 14 beneficiaries, San Agustin ABE Kaunlaran (P150,000) with 30 beneficiaries, Mikakalagud ABE Kaunlaran Association (P140,000) with 28 beneficiaries, Ayala ABE Kaunlaran Association (P150,000) with 30 beneficiaries, Saup-saup ABE Kaunlaran Association (P150,000) with 30 beneficiaries and the St. Vincent ABE Kaunlaran Association (P85,000) with 17 beneficiaries.
The ABE-K program was initially launched last year by the Panlilio administration as a way of providing a source of livelihood capital through the micro-finance program. The PCedo is set to intensify the micro-business drive throughout the entire province. (IOF)
