Senate Majority Floor Leader Alan Peter S. Cayetano turned over P150,000 to fund a micro-financing program for a Bogo City transport group yesterday afternoon.
Speaking to 1,500 public utility vehicle (PUV) drivers at the Bogo City Terminal, Cayetano said the program will offer low interest loans at easy payment schedules to the Bogo Land Transportation Federation (BOLT-F).
“One year after the devastation of supertyphoon Yolanda, our brothers and sisters in the Visayas region are slowly recovering. But they cannot do it alone. The people of Bogo, Cebu need every help they can get to rebuild their lives,” Cayetano said in Filipino.
BOLT-F is composed of 23 associations within Bogo City and neighboring towns in northern Cebu.
The micro-financing program dubbed “Kontra 5-6” forms part of the senator’s Presyo, Trabaho, Kita (PTK or Price, Employment, Income) platform.
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Cayetano said micro-financing allows members of cooperatives, entrepreneur groups and organizations wider access to capital that they can use to improve their livelihood.
“These hardworking people are not just PUV drivers. They are also drivers of Cebu’s transportation and tourism industry. They play an important part in the development of the province’s economy following the wrath of Yolanda,” Cayetano said.
Cayetano also clarified that the P150,000 came from businessmen who wanted to help the program.