DAVAO CITY — The Mindanao Development Authority (MinDA) has established a special team to help access available financing or grants from the government.
The initiative is among MinDA’s preparation for the post 2019 COVID-19 Recovery Program and a support program for the Balik Probinsya, Bagong Pag-asa Program (BPBPP) pushed by Senator Christopher Lawrence Go.
In a statement posted on social media on Wednesday, MinDA chair Secretary Emmanuel Piñol said the program would be known as Assistance in Loan Access for Livelihood and Agriculture Industries (ALALAI) and will provide free facilitation services to farmers, fisherfolk, and women who want to start small industries.
The MinDA ALALAI Special Team will determine and identify the various government loaning, emergency assistance, and grants programs per agency as well as undertake an information drive through mainstream media, social media, and face-to-face interaction to inform the public of the loan and assistance programs.
“It will also assist prospective applicants in the preparation of the feasibility and financial studies and other loan documents and link up prospective loan and grants beneficiaries with the banks or agencies with lending or financial assistance programs,” he said.
Pin?ol said a separate team would later be formed to closely monitor and supervise the implementation of the projects funded under the ALALAI Program.
He said billions of pesos in government assistance and loan funds for livelihood and other economic activities are “virtually gathering molds” in bank vaults.
“There are two main reasons these funds are not fully utilized. One is most people do not know about the programs, and even if they know there are such programs, the voluminous documentary requirements are so tough that the ordinary farmer and fisherman would rather go to the 5-6 lender… to borrow money,” Pin?ol said.
Among the government assistance programs which he said are not fully utilized are the Agricultural Competitiveness Enhancement Fund (ACEF) and the Overseas Workers Welfare Administration (OWWA) of the Department of Labor and Employment (DOLE) livelihood assistance.
He said ACEF, which is collected by the government from the importation of agricultural products, offers a P1 million loan to individuals and P5 million to cooperatives and associations involved in agriculture and fisheries at a very low interest rate of 2 percent.
OWWA, its part, offers livelihood assistance for returning OFWs so they can settle down for good and most of the funds are given as grants.
Piñols said the Department of Agriculture and its attached agencies, like the Sugar Regulatory Administration (SRA), the Department of Trade and Industry (DTI), and even the Department of Interior and Local Governments (DILG), have funds both for individual farmers and fishermen and local government units with very low access rates.
May 14, 2020 – Thursday 6:05 PM by RUTH PALO
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