In partnership with the Cooperative Development Authority (CDA), the Land Bank of
the Philippines (LANDBANK) is holding financial literacy trainings to small and micro
cooperatives from unbanked and underserved municipalities to aid their recovery
under the new normal.
Through the Financial Inclusion Through Cooperatives (FIT-Coop) Program,
LANDBANK is capacitating small and micro cooperatives to enhance their business
operations while linking them to appropriate government agencies for the
improvement of their services.
For the first 10 months of the year, LANDBANK—through the LANDBANK Countryside
Development Foundation, Inc. (LCDFI)—has conducted nine financial literacy
trainings for 18 cooperatives with 193 members from nine unbanked municipalities
nationwide.
“Technical assistance forms part of LANDBANK’s holistic support in service of small
and micro cooperatives, especially in unbanked and underserved areas in the
country. Together with the CDA, we are focused on building the resiliency of our
partner-cooperatives to spur economic activity and fast-track our collective
recovery,” said LANDBANK President and CEO Cecilia C. Borromeo.
Through the FIT-COOP Program, LANDBANK and CDA also conducted an online
survey early this year to identify the specific training needs and challenges faced by
small and micro cooperatives in their daily operations.
Results from Central Visayas and Caraga regions showed that recurring constraints
for cooperatives include slow internet access, lack of potable water systems, and
difficult road conditions, among others.
To help address these issues, the results of the survey were coordinated with
appropriate government agencies for possible development interventions and
support.
