Capitol recently granted ₱1.75 million in livelihood assistance to cooperatives in Narra town through the Provincial Cooperative Development Office (PCDO).
The financial support were handed on March 27, the Provincial Information Office (PIO) stated in a release.
Under the Cooperative Program for Sustainable Enterprise (COPSE), ₱750,000 were turned over to the Narra Teachers Multi-purpose Cooperative, which it can use as additional capital for expandig its palay and rice trading operations.
Meanwhile, the Mariwara Pag-asa Multi-purpose Cooperative and the Bato-bato Purok 7 Agrarian Reform Cooperative, both of which are located in Narra, were each awarded ₱500,000 as part of the Livelihood Recovery Program for Cooperatives that have been damaged or affected by disasters and calamities.
The cash will be used as recovery capital in order to ensure the continued success of their palay and vegetable producing enterprises.
Under the terms of the credit assistance programs, beneficiary cooperatives are expected to repay the assistance interest-free over a period of 24 months.
Those under the Livelihood Recovery Program will be given an additional one-year grace period before repayment begins.
This initiative follows earlier disbursements of capital assistance to cooperatives in other southern Palawan municipalities, including Aborlan, Quezon, Brooke’s Point, and Sofronio Española.
