Coops’ assets reach P573-B despite pandemic

Salome Njoki

The Kwara Take, PH

Cooperative Development Authority (CDA) Chairman Joseph Encabo said total assets of active cooperatives in the country continue to grow despite the challenges brought by the coronavirus disease 2019 (Covid-19) pandemic.

In an article published by Philippine News Agency (PNA), Usec. Encabo encouraged small entrepreneurs to pool their resources and form cooperatives for them to become more resilient amidst the pandemic. The Undersecretary strongly believes that the formation of cooperatives will be one of the keys to economic recovery.  

Kwara believes that cooperatives play a vital role in Philippine society with more than 18,000 registered entities and counting. The Cooperative movement is the backbone of the members who put their wealth together to create a strong foundation. Kwara encourages other government agencies tasked with supporting Cooperatives to continue to put measures in place to uphold the values that the movement stands for.

By the first quarter of 2022, CDA aims to complete its digitization initiatives and provide internet connectivity through the WiFi Connectivity Program that will be instrumental to reinforce the livelihood of cooperatives.


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