ODIONGAN, ROMBLON — The Cooperative Development Authority (CDA) MIMAROPA, led by Acting Senior Cooperative Development Specialist (CDS) for the Credit Surety Fund (CSF) Section, Ms. Marian A. Concepcion, recently met with Romblon Governor Hon. Trina Alejandra Q. Firmalo-Fabic to discuss the proposed establishment of a Credit Surety Fund Cooperative (CSFC) in the province. The meeting was held at the Barangay Hall of Barangay Liwanang, Odiongan, Romblon.

The meeting aimed to apprise the Provincial Government of its vital role in the registration and establishment of a CSF Cooperative pursuant to Republic Act No. 10744, otherwise known as the “Credit Surety Fund Cooperative Act of 2015.”

During the discussion, Ms. Concepcion underscored the significant economic benefits that the establishment of a CSF Cooperative would bring to Romblon. She explained that the CSF program is designed to provide cooperatives and micro, small, and medium enterprises (MSMEs) with improved access to formal credit facilities through credit surety assistance, thereby promoting inclusive economic growth, entrepreneurship, and cooperative development within the province.

Also present during the meeting was Ms. Helen Servañez, Senior CDS of the Registration Section, who shared the journey undertaken by the eleven (11) prospective member-cooperatives since 2022, when the Bangko Sentral ng Pilipinas (BSP) first introduced and promoted the Credit Surety Fund Program in Romblon. She highlighted the continuous efforts and commitment of the participating cooperatives in pursuing the establishment of the CSF Cooperative despite various challenges encountered throughout the process.

In response, Governor Firmalo-Fabic expressed her strong support for the initiative and assured CDA MIMAROPA of the Provincial Government’s commitment to help facilitate the immediate registration and establishment of the CSF Cooperative. Although the provincial budget for the current year has already been finalized, the Governor emphasized that the Provincial Government would explore available resources and possible mechanisms to support the initiative.

Governor Firmalo-Fabic further shared that empowering MSMEs and cooperatives has long been one of her advocacies, even during her tenure as Mayor of Odiongan, Romblon. She recalled implementing programs that provided financial and developmental assistance to local enterprises and cooperatives to help improve the lives of their members and communities.

With the favorable response from the Provincial Government of Romblon, CDA MIMAROPA remains optimistic about forging a strong partnership with the local government and the cooperative sector. The agency likewise looks forward to the successful establishment of the Credit Surety Fund Cooperative, which is expected to significantly contribute to the sustained growth and development of cooperatives, MSMEs, and the local economy of Romblon.