P’nan poverty eradication gets BSP award
LINGAYEN, Pangasinan - The Bangko Sentral ng Pilipinas (BSP) has recognized Pangasinan as the Most Outstanding Local Government Unit for the implementation of Credit Surety Fund (CSF) program.Provincial Administrator Rafael Howard Baraan said the program is one instrument given by BSP that is used to enhance, support and guarantee the loans of various cooperatives in the province for their implementation of livelihood projects.
Baraan said the program, which was launched in 2011 with a P10 million seed fund from the provincial government and has now facilitated some P91 million to at least 18 credit surety fund cooperative is a partnership between the BSP, Land Bank of the Philippines (LBP) Development Bank of the Philippines (DBP) and the Industrial Guarantee Loan Fund (IGLF).
Pangasinan CSF has a total surety fund amounting to P22.8 million that will serve as collateral for member livelihood cooperatives, Baraan disclosed.
He said through the CSF program, the provincial government aims to capacitate every household in the province and enable every head of the household to support the needs of his family. (Elsha Marie Soriano/MCA/EMBS/PIA-1, Pangasinan)
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