LAMUT Multi-Purpose Cooperative (LMPC) recently received a 900,000 loan grant from renewable energy developer Hedcor, Inc. together with the Aboitiz Foundation Inc. (AFI).
Benguet Governor Nestor Fongwan witnessed the turnover together with La Trinidad Mayor Edna Tabanda.
Fongwan expressed his gratitude in behalf of the people for the help Hedcor had been extending. He recalled the assistance Hedcor had been generously giving since he was still the Mayor of La Trinidad.
Paulino Enrique, chairman of LMPC was overjoyed to receive such amount to fund their cooperative. “This is our second time to avail a loan from Hedcor and we are very much thankful for the help Hedcor had been giving,” Enrique said.
u201dWe will be using the loan in preparation for the peak of season in November, in time for the All Souls Day,” Enrique added.
LMPC has been operating since 1991 in Sitio Lamut, Beckel, La Trinidad. Their products go as far as Manila supplying quality flowers to hotels and restaurants.
The financing loan scheme of Hedcor started way back 2010. It was launched after Hedcor organized trainings for cooperative officers and members exposing them to several livelihood programs. In the seminar, coops were taught on drafting livelihood proposals.
This project is part of the Corporate Social Responsibility of the company aiming to support livelihood projects in communities that host their hydropower plants. This financial assistance helps the community to be economically competent in line with Hedcor’s commitment in bringing about inclusive growth to each community.
Several cooperatives have benefited since the launch of the program. As of this year, four cooperatives has been continuously availing loan from Hedcor. They are Sal-angan-Banget Multi Purpose Cooperative in Itogon, Thanks Giving Multi-Purpose Cooperative (TMPC) in Tuba, and Barangay Alapang Multi-Purpose Cooperative (BALMUCO) in La Trinidad.
Cut flower farmers in Bineng, La Trinidad noted the flourishing of their business when Hedcor put up its five mini-hydros in the community. The plants brought steady electricity source needed for the green houses.
Also, the farm-to-market road built by Hedcor provided easier transport of the cut flowers to the market.
Hedcor is an AboitizPower subsidiary developing and operating 19 run-of-river hydropower plants in Benguet, Davao and Ilocos Sur generating a total of 155 mega watts of clean and renewable energy. (PR)