ILOILO CITY — The Cooperative Development Authority (CDA) provided financial assistance to 23 cooperatives in Western Visayas, each receiving PHP50,000 during an event in the La Paz district on Saturday. This funding initiative is part of a broader effort to bolster cooperative growth and sustainability in the region.
According to Philippines News Agency, Undersecretary Joseph Encabo, who spoke at the event, the CDA is committed to continuing support for these cooperatives with further capital allocation next year, contingent on their performance. Encabo emphasized the importance of adhering to cooperative principles such as cooperation, democracy, self-help, and community involvement, which he said are crucial for the growth and success of these organizations. He also highlighted that the support extends beyond financial aid, including programs and assistance in areas such as consumer marketing, production, and logistics, as well as the adoption of new technologies.
During the payout ceremony, Senator Christopher Lawrence Go, who allocated the budget for the assistance under the "Malasakit sa Kooperatiba" (Care for Cooperatives) program, encouraged the cooperatives to continue developing their capacities and community impact. He reaffirmed his ongoing support through his role on the Senate Committee on Cooperatives.