The Regional Project Advisory Board (RPAB) of the Philippine Rural Development Project RPCO 8 approved three enterprise development projects under the IREAP component.
These subprojects were the Benabaye Primary Multipurpose Cooperative's (BENAPRIMCO) Seaweeds Production and Trading Enterprise in Merida, Leyte, the Brgy Utanan Farmers Association's (BUFA) Banana Production and Trading Enterprise in Hilongos, Leyte, and the Sogod Abaca Fiber Enterprise in Bontoc, Southern Leyte.
RED Angel C. Enriquez, RPCO 8 Project Director, congratulated the associations and challenged them to earn more money through the projects. "I hope you realize how blessed you are to be given the opportunity because not everyone has been given a chance, and you could also participate in food security. Help yourselves that you can be able to improve the lives of your members, and you can probably expand," she said.
The total project cost for the Seaweeds Production and Trading Enterprise is Php 14,959,802.91. On the other hand, the Banana Production and Trading Enterprise is worth Php 9,789,653.82, and the Sogod Abaca Fiber Enterprise is worth Php 11,838,716.14. These small businesses seek start-up capital, with a total of 1,614 farmer-beneficiaries.
As mentioned above, the three proponent groups of the projects are CSO (Civil Society Organization) accredited, according to Dr. Jenny Lyn R. Almeria, Deputy Project Director. "Some business models were used in the business plans. Therefore, these are taken from the lessons learned from previous enterprise subprojects and are products of experiences," she emphasized.
Ms. Melecia Ong, a representative from the Department of Agrarian Reform 8, proposed approving the three projects. Ms. Araceli Larraga of the Department of Trade and Industry-Leyte seconded these.
During the review, five of the seven members of the RPAB were present.