IPIL, Zamboanga Sibugay, August 15 (PIA) - In a significant stride towards advancing local agricultural enterprises, the Peñaranda Abaca Planters Association (PAPA) of Kabasalan and the Nanan Multi-purpose Cooperative in Payao have been graced with substantial multi-million funding for their respective projects.

On August 14, a momentous event unfolded as member-beneficiaries from the Peñaranda Abaca Planters Association and the Nanan Multi-purpose Cooperative gathered in harmony alongside the Zamboanga Sibugay provincial government. This assembly marked the official turnover and consecration of essential equipment and machinery that are set to invigorate the operations of these forward-thinking associations.

The Peñaranda Abaca Planters Association received a warm welcome as they became recipients of a significant addition to their resources. This included a strong hauling truck and a group of 12 machines for preparing abaca fibers. These new tools are expected to greatly improve their abaca production, bringing in a more efficient and productive phase.

Simultaneously, the Nanan Multi-purpose Cooperative made progress with the handover of a formidable asset, a 4-tonner aluminum van designed to amplify their delivery capabilities. This delivery truck is poised to fortify their supply chain, ensuring smoother movement of their products to broader markets.
 

Nurturing prosperity: Preceding investment and dedication
 
Preceding this milestone moment, both associations had already been granted a substantial multi-million peso funding for their distinct initiatives. The Peñaranda Abaca Planters Association, with 61 member-beneficiaries, secured an impressive Php 14.2 million budget. The allocation breakdown is as follows: Loan proceeds (30%), Government of the Philippines (20%) thru Department of Agriculture , European Union (50%), and Proponent Group Equity (20%). Notably, the Proponent Group Equity encompasses a Php 500,000 contribution from the provincial government, coupled with a Php 588,988 site development grant from the Municipality of Kabasalan.

Conversely, the Nanan Multi-purpose Cooperative, consisting of 92 farmers, received a Php 3.2 million fund. The allocation breakdown is as follows: Loan proceeds (30%), Government of the Philippines (20%) thru Department of Agricu, European Union (50%), and Proponent Group Equity (20%).  With these funds, the cooperative is gearing up to execute their sub-project entitled "Cacao Wet Beans Consolidation and Trading," a venture that holds immense promise for the local cacao industry.

Cultivating prosperity and enriching communities
 
As these associations stand on the threshold of transformative growth, the funding infusion stands as a testament to the commitment of both the provincial government and external stakeholders to bolster local agricultural endeavors. The convergence of innovation, equipment, and financial support is poised to usher in a brighter future for both the Peñaranda Abaca Planters Association and the Nanan Multi-purpose Cooperative. This united step forward not only enriches these enterprises but also promises to catalyze economic growth within Zamboanga Sibugay and beyond. (JPA/RBI, Zamboanga Sibugay)