[ENTERPRISE DEVELOPMENT] Aboitiz Foundation’s enterprise development program continues to broaden its impact by reaching out to more organized groups and cooperatives throughout the country with the aim of revitalizing entrepreneurship in the countryside.
Recently, the Foundation partnered with Hedcor, Inc. to provide P1 million each in microfinance loans to Benguet-based Thanksgiving Multipurpose Cooperative and Barangay Alapang Multipurpose Cooperative (BALMUCO). These loans have been earmarked to improve the coops’ respective swine fattening and water system businesses.
Meanwhile, another P3.3 million were loaned to seven partner organizations in Cebu: Tabla Multipurpose Cooperative, Uling Multipurpose Cooperative, Rural Settlers Multipurpose Cooperative, Sagip Multipurpose Cooperative, Kapunungan sa mga Banikanhong Mag-uuma alang sa Ekonomikanhong Kalambuan (KABAMEKA), Cambinocot Multipurpose Cooperative, and San Roque Parish Multipurpose Cooperative.
Last September, the Foundation also signed five new loan packages with a combined investment of P2.2 million to build up capital for Mindanao-based cooperatives Entre-Workers Multipurpose Cooperative, Iligan Wood and Bamboo Manufacturers (ILWOBAMA), Mikro and Hindang Farmers Multipurpose Cooperative, Association of Differently-Abled Persons Multipurpose Cooperative, and Mapaang Multipurpose Cooperative.
In 2015, Aboitiz Foundation, partnering with Aboitiz Group business units, has released a total of P23.8 million in loan packages to 27 different cooperatives with close to 3,000 beneficiaries nationwide. In addition to financial support, the Aboitiz Foundation also trains members of partner organizations to ensure that they learn the necessary skills in making their livelihood projects successful.