MEMBERS of a credit co-operative based in Carmen, Cebu, could soon avail microfinance credit through a program launched by the Department of Agrarian Reform (DAR).
The microfinance operations of the Hagnaya Organized People for Environment Multi-Purpose Co-operative (Hope MPC) were launched recently at the co-op’s office in Barangay Hagnaya, a statement from the DAR said.
The Provincial Agrarian Reform Office through Enterprise Development and Economic Support (EDES) program has a capital-build-up of P200,000 that could be used by agrarian reform beneficiaries (ARBs) to improve farm productivity.
DAR Assistant Regional Director Louie L. Naranjo said the co-operative has been a recipient of “organizational strengthening, agri-enterprise and other training.” Naranjo, concurrent officer-in-charge and Provincial Agrarian Reform Program Officer II, said such factor qualifies Hope MPC, a DAR-assisted ARB organization, as a microfinance provider.
“Our department would continue to empower our co-operatives because the primary beneficiaries are our farmers in the countryside, which [need] much support to improve their lives,” Naranjo said.
Hope MPC Chairman Rosal Jayme said 58 ARB members are now availing the credit assistance through the co-op’s loan programs.
The co-operative was organized in 1993 and has been engaged in consumer store business.
Hope MPC Manager Petronio Peñas was quoted in a statement as saying that in 2017 co-op members were trained on manufacturing sinamay products such as hats, curtain holders, placemats and bags. The export of these products enhanced the co-op’s income, according to Peñas.