SAN JOSE DE BUENAVISTA, Antique — Twelve multipurpose cooperatives (MPCs) in Antique have partnered with the Department of Social Welfare and Development (DSWD) to assist in providing financial literacy training and facilitating cash payouts for beneficiaries of the Pantawid Pamilyang Pilipino Program (4Ps). The agreement was signed in a ceremony attended by DSWD Regional Director Carmelo Nochete and local cooperative officials.
According to Philippines News Agency, the cooperatives will conduct financial literacy sessions for 4Ps members, who will also be able to withdraw their cash grants from cooperative-operated automated teller machines (ATMs) for a minimal fee. Nochete noted that the partnership would help 4Ps beneficiaries manage their cash grants wisely, reducing their dependence on high-interest loans from informal lenders.
Governor Rhodora Cadiao highlighted that Antique, recognized as the “Cooperative Capital of the Philippines,” has two billionaire cooperatives, which could serve as models for financial support to vulnerable families. The DSWD also encouraged 4Ps members to join cooperatives to access low-interest loans during emergencies.