Altogether, the 31 cooperatives financially-assisted by the Davao City government have an impressive 98.13-percent loan repayment rate.
This was reported by Mayor Sara Duterte-Carpio herself when commenting on the performance of various cooperatives which availed themselves of the city government’s Cooperative Financial Assistance Program (CPAF).
Mayor Carpio reported that for 2017, the city allocated P4.2 million for the cooperative loan program.
For the period from 2014 to June 30, 2017 the cooperatives from the various districts of the city have been able to avail themselves of some P6.7 million of loans. However, the coops had notched the loan repayment rate of 98.13 percent during the period.
The report likewise stated that the counterpart Credit Surety Fund (CSF) which the city had dedicated to the program has now reached P1 million.
It was likewise bared that the number of contributing cooperative partners and financial institutions under the so-called Davao City Credit Surety Fund (DCCCSF) pursuant to the Cooperarive Act (RA 107440 have increased from 18 to 21 members.
