Cash Aid to Bikol’s Poor Reaches P683M

LEGAZPI CITY--- The implementation of the government’s poverty alleviation program across the country through the conditional cash transfer (CCT) changed the lives of the poorest of the poor communities in the countryside, an official of Land Bank of the Philippines in Bicol told Bicol Mail.

“The implementation of the government’s poverty alleviation program known as 4Ps really changed the lives of poor families in Bicol particularly in Masbate where the biggest number of beneficiaries are listed by DSWD,” according to Gerry Fulay, LBP Masbate branch manager.

“But for more than a year as beneficiaries of CCT, things completely changed as these recipients are now empowered and they are no longer ashamed to enter the bank,” he said.

Since the implementation of 4Ps program of the government, Renato G. Eje, Land Bank Bicol chief said that his office released P682,866,196 million covering 108,658 beneficiaries.

Among the six provinces of Bicol, the island province of Masbate has the highest number of beneficiaries with 62,443 followed by Sorsogon, 19,341, Albay, 12,017, Camarines Sur, 11,284, Camarines Norte, 2,130 and Catanduanes has the lowest beneficiaries with 1,443.

The island province of Masbate has the biggest share of 4Ps budget wherein the government’s leading financial institution here according to Eje poured in P386,801,183 million since 2008 to date covering 62,443 beneficiaries of the government’s poverty alleviation program followed by Sorsogon province with P102,049,900, Camarines Sur, P79,002,400, Albay, P78,769,813, Camarines Norte, PP18,901,600 and Catanduanes with the lost share at P17,341,300.

“This program greatly helped out the economic growth of Bicol because the beneficiaries of 4Ps immediately go to the malls or business establishments to buy their immediate needs and the money given by national government circulated in the region which is good indication for business and development,” Eje said.

Similarly, the Land Bank of the Philippines in Bicol according to the officials here contributed a lot in the economic growth as they have implemented priority programs to the grassroots level here.

The Land Bank’s priority sectors here include the small farmers and fishers folk (SFF), cooperatives, small and medium entrepreneurs (SMEs) and micro enterprises, agri-infrastructure projects of local government units, agri-related projects of government owned and controlled corporations, livelihood loans, agri-business, environment related projects, socialized housing, schools and hospitals.