Solving the puzzle
MALIMONO A 'RICH' TOWN
CAUGHT IN POVERTY TRAP
By Manny Piñol
- A P15-M credit facility from the Agricultural Credit Policy Council to be transferred to a local credit cooperative which serves as the only financial institution in the town. Farmers could borrow from the seed fund with a maximum interest of only 6%, instead of the current 18% charged by the cooperative, without any collateral;
- Fifty (50) units of motorised fiberglass boats for 100 families of poor fisher folks and 20 units of fiberglass paddle boats for hook and line fishermen;
- A P3-M fishlanding complete with ice-making facility to support the fishing activities of Malimono fishermen;
- A techno-demo farm for both rice and vegetable farming and additional farm implements for rice farmers with an area of about 100 hectares;
- A P30-M farm-to-market road to be implemented under the Philippine Rural Development Program (PRDP) connecting a mountain barangay which produces coconut and vegetables to the town proper. The LGU will provide a counterpart of P3-M;
- A loan assistance to a group of women producing dried cuttlefish (nokos) which is one of the most saleable product of the town...
