By U.S. News Agency / Asian

The provincial government of Albay has provided a total P82.5 million fund for the capital assistance of different sectors affected by various calamities since 2008 to 2010.

Albay governor Joey Salceda explained that fisher folks, agriculture farmers, women’s organization and transport sectors are among the beneficiaries of the capital assistance under the social assets program of the provincial government being implemented by the Albay Millennium Development Goals Office (AMDGO).

The P32.5 million fund is under the Bicol Care Self-employment Assistance sa Kaunlaran (SEA-K) that provides capital to entrepreneurial activities of farmers, women’s organizations and fisher folks cluster using the Department of Social Welfare and Development (DSWD) framework.

Each cluster has availed of the loan package with a minimum of 15 members or maximum of 25 with an allowable loan amount of P75,000 to P125,000.

The amount loaned is aimed to finance either a new or an existing entrepreneurial activity as alternative income generation.

“The Bicol Care SEA-K fund has benefited a total of 289 clusters or a total of 6,500 individuals since its full implementation from 2008 to December 2010,” Salceda said.

In her report to governor Salceda, AMDGO program coordinator Jeresha San Jose said that as of January 2011 the loan repayment collection is P9.5 million. “The repayment of loan started in 2009 and is on going.”

She added the collected repayment is equivalent to 28.99 percent of the P32.5 million loaned by the provincial government from DSWD. There were some delays in repayment of loans due to different calamities like La Nina, El Nino, floods and landslides that affected the farm production.

Another social asset program is the Expanded Plus Transport Operators and Drivers Association (E-TODA), a micro-financing program in partnership with the Philippine Postal Savings Bank.

The PPSB has released an amount of P50 million to the province that benefited transport organizations province-wide. E-TODA is a micro-financing for an alternative livelihood of transport sector.