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MANILA – The Cooperative Development Authority (CDA) is eyeing hiking its budget to PHP2.5 billion next year, its chairman Joseph Encabo told the Philippine News Agency.
Encabo said the PHP2.5-billion allocation for next year is more than double compared to the agency’s budget of nearly PHP1 billion this year.
“Because CDA is now working, and if you’re working, you need more budget,” he said.
Encabo said the bigger budget will be allocated to programs for the human capital development of cooperatives, which businesses remain small scale, as well as the capacity building for cooperatives of farmers and fisherfolk.
“The agriculture co-ops, we should be directly involved by providing them more projects and programs for their sector,” he added.
The CDA chief said cooperatives have a crucial role in supporting the agriculture sector to ensure adequate food supply in the local market amid the challenges of food security.
Encabo said the higher budget for the agency also aims to increase the business engagement of cooperatives and help in stimulating economic activities as the country recovers from the pandemic.
“We just want our cooperatives not only busy but more engaging and more vibrant and looking at the perspective that we will be major contributors to our economy,” he said.
There are currently around 20,000 cooperatives registered with the CDA serving 13 million members. (PNA)
