RPAB approves three enterprise development project

Created on Tuesday, 14 February 2023 Published Date
Three enterprise development projects under IREAP component received thumbs-up from the Regional Project Advisory Board (RPAB) of the Philippine Rural Development Project RPCO 8. These subprojects were the Seaweeds Production and Trading Enterprise of the Benabaye Primary Multipurpose Cooperative (BENAPRIMCO) in Merida, Leyte, Banana Production and Trading Enterprise of Brgy Utanan Farmers Association (BUFA) in Hilongos, Leyte, and Sogod Abaca Fiber Enterprise in Bontoc Multipurpose Cooperative in Bontoc, Southern Leyte.
RED Angel C. Enriquez, RPCO 8 Project Director congratulated to the associations and has challenged them to earn higher income with the help of the projects. “I hope you realize how blessed you are to be given the opportunity because not everyone has been given the chance, and you could also participate in food security. Help yourselves that you can be able to improve the lives of your members and you can probably expand,” she said.
The Seaweeds Production and Trading Enterprise has a total project cost of Php 14,959,802.91. On the other hand, the Banana Production and Trading Enterprise amounted to Php 9,789,653.82, and the Sogod Abaca Fiber Enterprise is worth Php 11,838,716.14. All of these are small enterprises proposing for start-up capital benefitting a total of 1,614 farmer beneficiaries.
As shared by Dr. Jenny Lyn R. Almeria, Deputy Project Director, the three proponent groups of the said projects are CSO (Civil Society Organization) accredited. “Some business models were used in the business plans. Therefore, these are taken from the lessons learned from previous enterprise subprojects and are products of experiences,” she emphasized.
Ms Melecia Ong, representative from the Department of Agrarian Reform 8 moved the motion for the approval of the three projects. These were duly seconded by Ms Araceli Larraga from Department of Trade and Industry- Leyte.
Five out of seven members of the RPAB were present during the said review.###
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