Sep 25, 2020

PCDO records 95% loan collection efficiency rate in 2018

The PCDO says agricultural cooperatives make up 65 percent of the 198 compliant cooperatives in the province, including Puerto Princesa City. (File photo courtesy Tenggoy Sarmiento)

The Palawan Provincial Cooperative Development Office (PCDO) achieved a 95 percent loan collection efficiency rate in 2018, its records show.

Victoria Ladica, Provincial Cooperative and Development Office (PCDO) head, said agricultural cooperatives contributed around 65 percent of 198 compliant cooperatives in the province including Puerto Princesa City

“We encourage self-help among beneficiaries through active participation and devising means contributing to costs and implementing and managing projects,” Ladica said.

She said cooperative members should also continue to actively participate in the programs to improve their incomes.

PCDO offers credit assistance programs that provide capital for the farmers and training which will help in their production.

Payments of the beneficiaries will go to a trust fund which will be also be distributed to other qualified coops.

Cooperatives that received no-interest loans in 2018 were Lapu-Lapu Multi-Purpose Cooperative, Sofronio Española Municipal Employees MPC, Coron School of Fisheries MPC, Sofronio Española Farmers Credit Coop at Agricultural Cooperative of Sofronio Española.

Puerto Princesa City has the most agricultural cooperatives with 74 cooperatives that have total memberships of 73,000. It is followed by Narra with 19 coops and Bataraza with 13 coops.

The Palawan provincial government also granted P1.3 million financial assistance to three cooperatives sourced from the Sustained Livelihood Opportunities and Growth for Cooperatives (SULONG) and Upgrading Support for the Advancement and Development of Entrepreneurs in Cooperatives (USAD) programs.

The beneficiaries were the Sofronio Española Farmers Multi-Purpose Cooperative (SEFMC)-P500,000; Coron School of Fisheries Multi-Purpose Cooperative (CSFMPC)-P500,000, and Agricultural Cooperative of Sofronio Esapañola (ACSE)-P300,000.

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