ICCDC sets aside P2M for cooperatives’ loans
The Iloilo City Cooperative Development Council has allotted P2 million for loans of cooperatives this year.
Councilor Lyndon Acap, chairman of ICCDC, said the amount will be released as financial assistance and the Council will determine the amount to be granted to qualified cooperatives based on their projects and impact to livelihood.
Acap said the P2 million will be a great help to cooperatives to boost their enterprises and marketing activities.
It would give a chance to cooperatives to improve their products and services.
Last year, ICCDC granted the Federation of Iloilo City Cooperatives some P1 million worth of financial assistance. FEDICCO released some of the amount to its member-cooperatives for their respective small business enterprises.
Acap said the ICCDC will strictly audit the use of the financial assistance to ensure that the funds are used properly.
He said cooperatives that wish to avail of the financial assistance may visit his office.
Meanwhile, the ICCDC is also helping cooperatives in the city to avail of livelihood loans and grants, conducts trainings and seminars, and promotes cooperatives for livelihood purposes.
Iloilo City has 83 active and functioning cooperatives registered with the Cooperative Development Authority.
October is Cooperative Month. This year’s theme is “Towards a Shared Vision, One Co-op Movement, One Vision, One Nation.”*PNA
