Rationale/Background:
The Cooperative Development Authority (CDA), in coordination with the Office of Senator Bong Go, has embarked on providing financial assistance to cooperatives to increase its capitalization for its growth and sustainable developments through livelihood development related activities and capacity building programs.
The provision of financial assistance to cooperatives is one of the Agency’s programs/projects to alleviate poverty situation in the local communities by giving deserving cooperatives a financial assistance to augment the capital requirement for them to pursue businesses, livelihood project, and/or requirements to address their need to continue their operation.
Target cooperative-beneficiaries micro and small cooperatives including youth cooperatives which need assistance in terms of business operation, agricultural and non-agricultural production, additional capital including other necessary materials in relation to their operation and the like. Another group to consider are laboratory cooperatives needing assistance to increase their capability and capacity to manage and operate full-fledged cooperatives.
This initiative for the “Malasakit sa Kooperatiba” under the Office of Senator Bong Go will be launched in sixteen (16) regions nationwide with the assistance of the concerned CDA Regional Extension Offices.
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;
- Augment the capital requirement for new and existing livelihood activities;
- Capacity building of cooperatives, its members, officers and staff;
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 agricultural-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;
- Training and education related activities; and
- Other purposes as approved by the CDA Board of Directors
Qualified Applicants/Beneficiaries:
The Project is intended for the following:
- Micro and small primary cooperatives including youth cooperatives
- Laboratory cooperatives through its guardian primary cooperatives
Section 2 of CDA Memorandum Circular no. 2024-20 or the “General Guidelines for the Release or Grant of Financial Assistance to Cooperatives” shall be observed in determining the qualified beneficiaries, i.e. duly registered cooperatives with the CDA and are accredited by the CDA.
Project Fund:
A total of PhP 60 Million Pesos is allocated for the implementation of this Project, where five percent (5%) will be utilized by the CDA for its administrative expenses.
Schedule of Awarding:
Activities related to the awarding of grants is proposed to be held from January 24 – February 10, 2025 and will continue after election ban.
Applicable Guidelines:
The CDA MC 2024-20 shall be observed in the release and grant of financial assistance under this project/program. Qualified cooperative-beneficiaries under this Initiative shall submit its application together with the required documents to the CDA Regional Extension Office that has jurisdiction over the same cooperative-applicant.
