CDA releases cash aid to 23 W. Visayas cooperatives

ILOILO CITY: The Cooperative Development Authority (CDA) released PHP50,000 financial assistance to each of the 23 selected cooperatives in Western Visayas in this city's La Paz district on Saturday afternoon. In his message, CDA chairperson, Undersecretary Joseph Encabo, assured the recipients that the agency will continue to allocate more funds to augment their capital next year as long as their organizations perform well. He urged cooperatives in the region to protect their organization, resources, and members, which are the key to progress. 'It is important that we partner, and collaborate. The principle of cooperativism is cooperation, democratic, self-help, the whole community. There is education and advocacy. If we live with those principles, our cooperatives will surely grow,' he said. He added that there are also programs and assistance for those under the consumer, marketing, producers, and logistics cooperative cluster. The support is not only financial but also new technologies, he said. The CDA chief also encouraged transport cooperatives to believe in the modernization program that helps the economy. 'Modern transportation gives safety measures to passengers,' he said. He advised them to continue learning the transport system, read the laws, and seek the advice of the CDA. Encabo challenged the recipients to prove they are deserving of the support of the government by being compliant, having a good financial statement and coming up with programs that impact their community. Encabo was joined during the payout by Senator Christopher Lawrence Go, who provided the budget from his allocation to releasing the assistance under the "Malasakit sa Kooperatiba" (Care for Cooperatives) program. Go urged the beneficiaries to nurture their cooperatives as he committed his help as a member of the Senate Committee on Cooperatives. Source: Philippines News Agency