VP Leni taps microfinance orgs to help poor families

Amid rising prices of goods and services, the Office of Vice President (OVP) Leni Robredo will partner with microfinance institutions to help poor families sustain their livelihood through the OVP’s flagship anti-poverty program “Angat Buhay.”

The Office of the Vice President (OVP) on Wednesday said its officials met with several microfinance institutions to discuss possible partnerships under the program to alleviate impact of rising prices.

“Under these partnerships, the office hopes to help cushion the impact of rising prices on Angat Buhay communities and individual beneficiaries, by giving them direct links to markets, and introducing them to ways on how to sustain their businesses,” the OVP said in a statement.

“The microfinance institutions expressed willingness to engage in the endeavor, noting that small enterprises need to be versed in new technologies as well as on faster ways to produce and sell their goods,” it added.

Likewise, the OVP said it was also looking into linking beneficiaries of its livelihood grants to microfinance institutions.

The OVP was also considering to expand the services of these institutions in Angat Buhay “priority areas” and those reached by the program’s “Metro Laylayan” program.

“With rural development as one of its main pillars, the OVP, under Angat Buhay, has extended some P4.59 million of livelihood subsidies to 276 beneficiaries in a total of 15 municipalities around the country,” the OVP said.

“This includes assistance for livelihood pursuits like weaving, hog-raising, organic farming, dressmaking, abaca fiber production, and virgin coconut oil processing,” it said.  /vvp