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9 coops receive P875k loan from Bulacan Gov’t
Wednesday, 13 October 2010
CITY OF MALOLOS- The Provincial Government of Bulacan granted financial assistance in the form of loans worth P875,000 to nine cooperatives in Bulacan through its Negoskoop Financing Program recently.

The beneficiaries include San Isidro Kilusang Bayan MPC for their Water Refilling Station; Kapit Bisig sa Pag-unlad MPC and PASCHAL MPC for their Consumer Store; Samahang Kapatirang Kababaihan ng Pulilan MPC for their Ukay-ukay Trading; and Kooperatiba ng Pangmalawakang Paglilingkod ng Bayabas MPC, Balikatang Pamayanan ng Inaon MPC, Biclat Agrarian Reform MPC, CASECHCOM MPC and San Francisco MPC for their Rice Trading.

These cooperatives underwent a rigorous process of evaluation before they qualified to receive these loans to boost their operations.

Recognizing the huge contribution of cooperatives in the economic development of the province, Gov. Wilhelmino Sy-Alvarado said the Capitol will continue to support the coop sector through capability building, marketing assistance, product development assistance and financial assistance.

The awarding of loans coincided with the opening ceremony of the Buwan ng Kooperatiba and Pangangalakal this October banked on the theme “Kooperatiba at Kalakalan: Lingkod ng Lalawigan sa Pagpapaunlad ng Kabuhayan at Pangangalaga ng Kalikasan.” It was attended by almost 2,000 coop officials and members.

Aside from the awarding of financial assistance, the province will also hold Cooperative and Enterprise Trade Fair, Orientation Seminar on Republic Act (RA) 9520, Provincewide Cooperative Clean-up Day and Tree Planting Activity, and Orientation Seminar on the Implementing Rules and Regulations (IRR) and Taxability Exemptions of Cooperatives.

Based on the record of the Provincial Cooperative and Enterprise Development Office (PCEDO), as of June 2010, there are 514 cooperatives in the province.

Bulacan remains to be recognized as the Cooperative Capital in the Philippines because it has the most number of registered cooperatives based on records of Cooperative Development Authority, also, with the highest combined assets from registered coops.###

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