San carlos city: The Cooperative Development Authority (CDA) on Wednesday distributed initial financial assistance totaling PHP140,000 to seven coconut farmers' cooperatives in San Carlos City, Negros Occidental. CDA Provincial Cooperative Development specialist Jona Gepilga, alongside Mayor Renato Gustilo, handed out checks amounting to PHP20,000 each during a ceremony at the City Mayor's Office.

According to Philippines News Agency, the financial assistance is intended to cover registration and audit expenses for the newly converted coconut farmers' cooperatives. Gepilga noted that with this assistance, the cooperatives are now officially registered and can benefit from CDA programs.

The beneficiaries include the Codcod Coconut Farmers Agriculture Cooperative; Buluangan Coconut Farmers Producers Cooperative; Palampas Cabunao Coconut Farmers Producers Cooperative; Barangay Nataban Coconut Farmers Producers Cooperative; Bagonbon Coconut Farmers Agriculture Cooperative; Quezon Coconut Farmers Producers Cooperative; and Sipaway Island Coconut Farmers Producers Cooperative.

Victor Garde, chairperson of the 15-member Sipaway Island Coconut Farmers and Producers Cooperative, expressed gratitude to the CDA and the city's Cooperatives and Livelihood Development Office for their guidance. He emphasized the hope that all cooperatives will soon organize fully and begin producing coconut-based products to enhance income.

The conversion and registration of these cooperatives with the CDA took place on April 8, with assistance from the CLDO and the Philippine Coconut Authority. They can now register their businesses with the Bureau of Internal Revenue and secure certificates of tax exemption to commence operations.

In September, the CDA plans to conduct an enterprise development seminar and value chain training for these cooperatives to bolster their operations and support their growth.