Wednesday Oct, 21 2020 04:13:52 PM

MinDA assists groups, coops to avail of loans, financing

Local News • 10:15 AM Wed Sep 30, 2020
176
By: 
MinDA Sec. Emmanuel Piñol

'Project Diskarte Lang!'

KIDAPAWAN CITY - The Mindanao Development Authority (MinDA), even with a minuscule budget of P176-M, has initiated programs which could support Mindanao's socio-economic development without a lot of funding requirements.

One such program is called the ALALAI or simply Assistance in Loan Access for Livelihood and Agriculture Industries.

Actually, this is a variation of the PLEA and PUNLA, loaning programs which I started when I was Agriculture Secretary which came as a result of a surprising discovery that many government funds for loans and livelihood assistance remained unused simply because the farmers, fishermen and other stakeholders never knew about the programs.

In the ALALAI program, farmers and fishermen's groups, cooperatives, local government units and even private individuals who would like to avail of financing from government financing institutions are assisted by MinDA through:

1. Assessment of the viability of the proposed project;

2. Preparation of the Feasibility and Financial Study;

3. Preparation of the Loan Package Application;

4. Referral to MinDa's partner bank, DBP.

Since the project was launched, at least two major financing programs have been approved by the Development Bank of the Philipppines.

These are the P215-M loan of Taraka Local Government Unit in Lanao del Sur and the P240-M Cassava plantation expansion program for farmers in Malabang, Lanao del Sur who are linked with the Matling Industrial Commercial Corporation.

The Taraka Loan Program will be used for the establishment of a Water System, six units of Solar-Powered Irrigation and purchase of road building equipment.

The Cassava Expansion Program loan will finance production in about 8,000-hectares if land in the country's poorest province.

There are at least 6 projects now being evaluated by MinDA for assistance under the ALALAI program, including a proposed Fish Feed Mill facility in Davao del Norte.

Ito ang tinatawag naming serbisyo na diskarte lang ang kapital.

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