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Dumaguete City, PhilippinesFriday, March 25, 2011
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Guv sinks P2M more
into CSF program

Negros Oriental Gov. Roel Degamo has announced that he will pour in another P2 million into the Coopreneurship Surety Fund program in the province, in line with the livelihood phase of his Health, Education, Livelihood Program, a Philippine Information Agency press release said.

Degamo, speaking during the 42nd General Assembly of the Dumaguete City Credit Cooperative, recently said the additional funds intend to boost the small medium entrepreneurs and cooperatives in the province, as they play a major role in providing livelihood for the people.

The provincial government under late Gov. Emilio Macias II had poured in P3 million as counterpart funds to the program initiated by the Central Bank of the Philippines.

This was followed by another P2 million from the late Gov. Agustin Perdices, who took over the provincial government seat, after the demise of Macias.

The CSF program was introduced in the province in 2010, and that, Negros Oriental eventually adopted the program in the same year.

The fund serves as a surety cover for SMEs and cooperatives to access loans from financial institutions without collateral, and minus the stringent requirements normally imposed on them by banks, the press release added.*



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