DSWD calls on SEA-K recipients to be 'good borrowers'
The Department of Social Welfare and Development (DSWD) is hoping that recipients of the Self-Employment Assistance-Kaunlaran (SEA-K) project in the island province of Guimaras would be "good borrowers" and will be able to return the capital of the money they have loaned.
DSWD Regional Director Teresita Rosales said borrowers of the SEA-K project can avail much higher loan if they would be "good borrowers". In the level I of the SEA-K project, each association can avail a P5,000 loan. They can borrow a much higher amount in the level II. In the level III, they can have a loan in a cooperative or banks.
The recipients will only have to pay for the monthly repayment rate. There is no interest for the loan. It is more of a capital build up. The recipients will only form into a cooperative to avail of the livelihood assistance. Good borrowers who reached level III will also receive an incentive of P5,000 for the construction of their home, said Rosales.
Earlier, the department also released some P5 million for the SEA-K project. The funding went to different fisherfolk associations in the towns of Nueva Valencia and Sibunag. The funding was released last September and alloted for the seaweed farming. The success of the project could not yet be determined since the association has yet to harvest the seaweeds, said Rosales.
Rosales said there is a big market for seaweeds. She hopes that the recipient will take care of their livelihood program to ensure the continuity of the project. The success of the project depends on the recipients.
The department is set to release another P10 million for the livelihood program in Guimaras. The program is part of the rehabilitation program for the province after it was hit by an oil spill in August last year. The rehabilitation program is a continuing effort on the part of the government.
At least 114 SEA-K associations will avail of the P10 million livelihood fund. The loan would be used as capital for business ventures on seaweeds, food production on coconut based products and geo-textile.
The P10 million is part of the P35M recent release of the national government as rehabilitation fund. Bulk of the fund is intended for the cash for work program which amounted to P18 million. The fund would be released as soon as the social welfare department, provincial and municipal officials sign the memorandum of agreement.
The P10 million intended for livelihood programs will be turned over to the municipal officials and be transferred to the different associations. Of the P10 million, a bigger slice will go to the town of Nueva Valencia. The town will receive P5 million; Sibunag – P1.8 million; San Lorenzo – P1.4 million; Buenavista – P1.2 million; and Jordan – P600,000.