Koronadal City co-ops cited for their contribution to local economy

By Aida C. Agad

Tuesday 10th of July 2012

KORONADAL CITY, July 10 (PIA) -- Cooperatives in this city are considered development players that propelled the local economy.

In his state of the city address (SOCA) July 9, Koronadal City Mayor Peter B. Miguel underscored the contributions of the 70 cooperatives accredited by the city cooperative office to the city’s economy.

Miguel said the city government has also extended support to these cooperatives in the form of trainings and seminars, technical assistance, as well as loan assistance.

The mayor also commended the cooperatives for paying their loans extended by the city through the Cooperative Support Fund for Quality Massive Economic Development.

Eleven accredited cooperatives have availed itself of a loan assistance in 2011 and have already fully paid their loan, Miguel reported.

The city cooperative office also reported an increase of 54 percent in loan assistance fund, from P830,000 in the previous year to P1.8 million as of the 1st semester of 2012.

The office was accredited last year as cooperative training provider and became a nominee for the nationwide “Gawad Parangal CDA.” (DED/ACA-PIA 12)