Rationale/Background:
The Cooperative Development Authority (CDA), in coordination with the Office of Senator Imee Marcos has embarked on providing financial assistance to cooperatives to increase its capitalization for its growth and sustainable developments.
This initiative is one of the Agency’s programs/projects to alleviate poverty situation in the local communities by giving deserving cooperatives financial assistance. The cooperatives to be identified shall be: in need of assistance in terms of business operation; agricultural and non-agricultural production; and additional capital including other necessary materials in relation to their operation.
As Chairperson of the Senate Committee on Cooperatives, Sa Kooperatiba Imee Solusyon is one of Senator Marcos’ advocacies for cooperative development. This good Senator’s legislative support helped fund the CDA’s Project called Financial Assistance to Cooperatives under CDA MC 2024-20.
Objectives:
The Program aims to provide financial assistance to cooperatives for the following objectives:
- Alleviate the plight of cooperatives and its members to recover from disasters, calamities and the like;
- Increase and upscale its business operation.
Purpose of the Fund:
The fund shall be utilized for any of the following:
- Agriculture production such as crop, livestock, fishery, and other related concerns;
- Procurement of agri-machineries, tools, inputs and other agriculture related equipment
- Working capital for business expansion or establishment of new ones;
- Consumer inventories;
- Replenishment of biological assets and inventory of agricultural produce;
- Purchase of equipment for productive purposes;
- Additional capital for relending purpose; and
- Other purposes as approved by the CDA Board
Qualified Applicants/Beneficiaries:
The Project is intended for the following:
- Cooperatives that belong to micro, small and/or newly categorized medium cooperatives
- Cooperative Federations
- Merged/consolidated Cooperatives
Only duly registered cooperatives with the Cooperative Development Authority (CDA) and cooperatives accredited by the CDA may avail of the Project, without prejudice to other requirements prescribed by existing government auditing ad account rules and regulations.
Project Fund:
A total of PhP 50 Million Pesos is allocated for the implementation of this Project, where two percent (2%) will be utilized for administrative expenses.
Application Requirements:
Interested applicants/cooperatives shall submit its application together with the required documents to the CDA Regional Extension Office that has jurisdiction to cooperative-applicant.
