Aboitiz Foundation assists 8 coops in Cebu
With the objective of empowering communities by supporting their livelihood activities, a total of 8 Cebu cooperatives received financial assistance from the Aboitiz Foundation, the social development arm of the Aboitiz Group, under its enterprise development program.
Aboitiz Foundation Executive Vice President and Chief Operating Officer Sonny Carpio recently signed a memorandum of agreement with the officers of four partner cooperatives at the Aboitiz Corporate Center in Banilad, Cebu City.
These cooperatives were granted microfinance loan packages amounting to a total of 2.6 million. These are San Roque Parish Multipurpose Cooperative, Cambinocot Multipurpose Cooperative, Kapunungan sa mga Banikanhong Mag-uuma alang sa Ekonomikanhong Kalambuan (KABAMEKA), and First Consolidated Cooperative Along Tanon Seaboards.
The funds will be used to finance various livelihood projects like rice farming, farm inputs trading, agricultural development and consumers’ store. These livelihood projects are expected to benefit 446 beneficiaries from the cooperatives’ pool of members.
This is in addition to a check totaling P3.3 million in loan packages that the Aboitiz Foundation turned over to seven partner organizations in Cebu.
The organizations were: Tabla Multipurpose Cooperative, Uling Multipurpose Cooperative, Rural Settlers Multipurpose Cooperative, Sagip Multipurpose Cooperative, in addition to further assistance for KABAMEKA, Cambinocot Multipurpose Cooperative, and San Roque Parish Multipurpose Cooperative.
The Aboitiz Foundation provides assistance to organized groups by promoting and enhancing the income-generating livelihood activities of these organizations.
Since the program started, the Foundation has already released a total of 489 loan packages amounting to P169 million, benefiting over 22,000 beneficiaries.
About Aboitiz Foundation
Established in 1988, the Aboitiz Foundation continues to pursue its mission to help people help themselves, implementing CSR interventions especially in communities where Aboitiz companies operate. The Foundation focuses its efforts on education, enterprise development, environment and health and well-being.