GENERAL SANTOS CITY (November 23, 2011) - Representatives of cooperatives from all over the province pose for a photo opportunity with Bangko Sentral ng Pilipinas (BSP) officials after the launching of Sarangani Province Credit Surety Fund and signing of the Memorandum of Agreement among its stakeholders Tuesday, November 22, at Phela Grande Convention Center. The Credit Surety Fund aims to help micro, small, and medium entrepreneurs (MSMEs) gain access to bank credit even without collateral. Instead of the usual collateral, a pooled surety fund set up jointly by local government units, cooperatives, and other partners guarantees payment of the loan to the bank. Sarangani province is the 19th province in the country to join the BSP’s Credit Surety Fund. In photo (L-R, seated) are Edelina Phoebe Andang, chairperson of Alabel Public School Teachers Cooperative; Herson Dema-ala, chairperson of Alabel Local Government Multi-purpose Cooperative; Sarangani Board Member Virgilio Clark Tobias; Augusto Lopez-Dee, vice chairperson, review committee, Industrial Guarantee and Loan Fund; Sarangani Governor Migs Dominguez; Diwa Guinigundo, deputy governor of Bangko Sentral ng Pilipinas; Althon Ferolino, vice president/head, Region XII, Land Bank of the Philippines; B. Brillo Reynes, senior vice president, Development Bank of the Philippines; Rosalinda Dumaliang, director, Bangko Sentral ng Pilipinas; and Neri Asperga, chairperson of Glan Local Officials and Employees Movement Multi-purpose Cooperative. (Cocoy Sexcion/SARANGANI INFORMATION OFFICE)
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