In its commitment to enhance service delivery through review of past performance, revisit of goals and targets and identification of gains and gaps, the Credit Surety Fund (CSF) Service held its 2024 Mid-Year Assessment and Planning (MYAP) Workshop on July 16-19, 2024 at the Bohol Shores, Panglao Island, Bohol.
The activity is a regular assessment of service performance ensuring that timely and appropriate interventions are implemented to keep the CSF Service programs, projects and activities on track based on targets as indicated in the 2024 Work and Financial Plan and desired outcomes and objectives in the Five-Year CSF Roadmap.
Adding fervour to the activity was the presence of Asec. Luz Yringco, Head of the Head of Credit & Financial Services Banking, Insurance and Credit Surety Fund Cluster and Asec. Santiago S. Lim, Administrator. Both officials generously spent time with the CSF personnel, sharing valuable insights and providing guidance all throughout the four-day activity.
Asec Yringco gamely initiated a role-playing session with the participants giving worthy performances on how should the CSF program be promoted. This session successfully exhibited different approaches in getting the “yes” of local chief executives (LCEs) to the CSF program.
Asec. Lim, on the other hand, presented the evolution of Agricultural Credit and Support Programs in the Philippines from the Masagana 99 to the Credit Programs for the Agriculture and Fisheries Sectors of Agricultural Credit Policy Council to the Credit Guarantees and Financial Assistance to the Agricultural Sector of Quedancor to Pondo sa Pagbabago at Pag-asenso (P3) of Small Business Corporation and finally the Credit Surety Fund Program. Asec. Lim mentioned that while these programs have relative successes, they were not achieved without challenges. Applying this to the CSF Program, he stressed the importance of good governance and management, transparency and accountability and effective loan recovery mechanisms to complement the CSF Cooperatives’ collaborative approach involving multiple stakeholders-cooperatives, LGUs, and financial institutions, strong regulatory support and structured implementation and oversight. He likewise underscored the important role of CSF Section personnel, that is, the continuous provision of technical assistance to the CSF Cooperatives to ensure the program’s success.
One of the highlights of the mid-year assessment was the presentation of the Five-Year CSF Roadmap 2024-2028 which was done by Mr. Joselito O. Hallazgo, the Acting Director of the CSF Service. Director Hallazgo mentioned that the roadmap was a product of the collective insights and aspirations of the key players of the CSF program – cooperatives, local government units, government financial institutions, Bangko Sentral ng Pilipinas and Cooperative Development Authority. This roadmap, according to him, shall be the strategic overview of milestones, tasks and strategies defining long and short term goals. He presented in detail the desired outcomes, objectives and targets for each year of the roadmap.
In line with the Presidential Directive to come up with a whole-of-nation approach that will create an enabling environment for the agricultural sector for their long-term growth and development, a discussion on Accelerating Access to Finance of Agricultural Cooperatives Through the CSF Program (AAFAC) was done. Mr. Recto E. Transfiguracion, Chief CDS of Technical Assistance Division, mentioned that this program provides an opportunity for the micro and small agricultural cooperatives to access finance from banks through the CSF program. He added that beneficiaries of this program shall be linked to appropriate government agencies in order to avail subsidies for additional capital to expand their farm operations for their continued growth and development and shall be given financial literacy trainings to avoid overindebtedness.
As the activity aimed to assess the performance of the Regional Extension Offices (REOs), Ms. Jo Ann C. Gamboa, Chief CDS of Inspection and Examination Division (IED) presented their accomplishments vis-à-vis the FY 2024 Work and Financial Plan and Year One (1) Targets of the Five Year CSF Roadmap. Commendation was given to REOs which performed exceptionally while those performed below the set targets were reminded to formulate catch-up plans. REOs were specifically reminded to catch up on the conduct of roadshows and other promotional campaigns of the CSF Program.
Each REO was also given a spot to present their best practices, challenges and catch up plans. Many innovative and out-of-the-box activities were noted, particularly on convincing LGUs to partner to join the CSF program and on providing technical assistance to CSF Cooperatives to ensure their safe and sound operations.
Other presentations done include the Results of Inspection Activities by Mr. Rodrigo I. Rebello, Jr., Assistant Chief of IED, Observations on the Monitoring Reports Submitted, Status of Submission of Mandatory Reports and Selected Statistics as of June 30, 2024 by Mr. Ian Dave U. Alindajao, Senior CDS of IED and Criteria for the Gawal Parangal by Mr. John Erick R. Zepeda, CDS II also of IED.
Atty. Elizabeth O. Batonan, Deputy Administrator of the CSF Service presented the Ways Forward which will set the direction of the CSF Program in the next six (6) months. She emphasized that the CSF Roadmap shall serve as guide in the implementation of programs, projects and activities identified per strategic goals. She challenged the REOs to intensify efforts to encourage more provinces and cities to join the program that after five (5) years, about forty percent (40%) of them are already implementing the CSF program. In closing, she extended her appreciation to all CSF personnel for their commitment and hardwork in advancing the CSF Program in the country with its goal: No one is left behind as the CDA, CSF Cooperatives and other stakeholders build bridges towards financial independence!
