Six Cebu-based cooperatives received P1.4 million worth of microfinance packages from Aboitiz Foundation Inc. last April 19.
The recipients of the loan, which will fund livelihood projects, were the Tabla Multipurpose Cooperative (MPC), Paknaanon MPC, Tina-an Neighborhood MPC, LLC Muslim Ambulant Vendors MPC and Paknaan Community Credit Cooperative and the Purok Sili Urban Poor MPC.
Twelve members of Tabla MPC and 10 of Tina-an Neighborhood MPC will venture on swine fattening, while Paknaan Community Credit Cooperative on rug-making.
The other MPCs will use the funds for various livelihood development projects.
Aboitiz Foundation executive vice president and managing trustee Sonny Carpio thanked the MPCs for their commitment and cooperation.
“Our microfinance program’s success is because of you, who have responsibly made sure that each centavo we lend counts,” Carpio said.
Vicente Domasian, member of Purok Sili MPC’s board of directors, also thanked foundation’s support.
“We are very grateful…The cooperative should have been dissolved, but because Aboitiz came to us, we recovered and gradually progressed,” he said.