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NEWS STORY

P800 K for livelihood projects ready for Hingyon

 

H

ingyon, Ifugao --- Regional Executive Director Marilyn V. Sta Catalina of the Department of Agriculture-Cordillera Administrative Region approved budget amounting to P800, 000.00 as livelihood assistance fund (LAF) for peoples organizations (POs) here in September 2013.

 

 

The PO beneficiaries include the Bangtinon Farmers Association, Bangtinon Womens Organization, Piwong Farmers Organization, Piwong Womens Organization, Ubuag Farmers Organization, Ubuag Womens Organization, the Mompolia Farmers Organization and the Mompolia Womens Organization. The PO shall each receive a total amount of PhP100, 000.

 

The Second Cordillera Highland Agricultural Resource Management (CHARM2) Project appropriated the LAF to finance livelihood undertakings identified by the community in their Project Investment Plan (PIP). The LAF will also finance livelihood activities with provincial or municipal coverage which are not included in the PIPs but are identified in the enterprise/value chain development plans of the municipality.

 

The LAF shall be deposited to registered financing institutions such as cooperatives or microfinance NGOs for the intended beneficiaries or Livelihood Interest Group (LIG). The beneficiaries may avail of the funding through loans. The Lagawe Multipurpose Development Cooperative shall serve as the Community Financing Institution for the selected POs in Hingyon

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The LAF fund will be released as soon as IFAD and the Philippine Government approve and sign the revised Project Finacing Agreement that formalized the coversion of the original credit program to LAF.

 

According to CHARM2 Project Manager Dr. Cameron P. Odsey, the loan is a strategy to protect and regulate the LAF. The loan, however, would not require collaterals from the beneficiaries.

 

CHARM allotted a total amount of PhP 60M as LAF for the 170 CHARM-covered barangays in the entire Cordillera region. // Jennilyn Nanglihan/PS-Ifugao

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