MASS-SPECC gathered its member cooperatives for an orientation workshop and consultation on the Pondo sa Pagbabago at Pag-asenso (P3) Program Fund of the Department of Trade and Industry (DTI) on June 23 and 24, 2017 at Philtown Hotel in Cagayan de Oro. Forty-three member-cooperatives across Mindanao participated in the consultation.
P3 is the national government’s banner program designed to eradicate the ‘5-6’ lending scheme, a usurious lending practice prevalent throughout the country. MASS SPECC was selected as one of the national conduits of the P3 fund that will be made available to members of cooperatives.
Small Business Corp., a DTI-attached agency, is spearheading the disbursement of P3 funds. SBC Vice President, Ma. Linda Orsos, explained the program mechanics during the consultation. She commended MASS SPECC for taking on the program and for its “passion” in undertaking it for the benefit of the cooperative sector.
Ms. Bernadette Toledo, CEO of MASS-SPECC, emphasized that P3 is in line with the federation’s new vision for all members to “enjoy better quality of life.” Mr. Alex Gaane, Deputy CEO for Operations, for his part explained the wholistic approach that the federation will take in implementing the program.