The Iloilo City Cooperative Development Council (ICCDC) here has allotted some P2 million for the cooperatives' loans this year.
City councilor Lyndon Acap, chairman of the ICCDC said that the city has allotted the amount as financial assistance to the cooperatives. This amount which will be sourced through the ICCDC. The coop council will determine the amount which will be granted to the list of qualified cooperatives based on their projects and impact to livelihood.
Councilor Acap said that the P2 million is a great help for cooperatives to boost their enterprises and marketing. He also said that this is a great chance for coops to improve their products and services.
Last year, ICCDC has granted the Federation of Iloilo City Cooperatives (FEDICCO) some P1 million worth of financial assistance. FEDICCO then released some of the amount to its member cooperatives for their respective small business enterprise.
Councilor ACAP said that ICCDC will make sure that the financial assistance will be strictly audited to make sure that the funds are used properly.
He said interested coops that wish to avail of the financial assistance may proceed to his office at the city council.
Meanwhile, ICCDC is helping coops in the city to avail of livelihood loans and grants. It also conducts trainings and seminars to coops, as well as promote cooperatives for livelihood purposes.
Iloilo City has around 83 active and functioning cooperatives registered at the Cooperative Development Authority (CDA).
October is the Cooperative Month.
This year's Cooperative Month celebration theme is “Towards a Shared Vision, One Co-op Movement, One Vision, One Nation.†(PNA)
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