Mayor Jejomar Binay said that under the program, cooperatives can apply for a livelihood loan to be used to finance their small business at low interest rates.
Each cooperative member can avail of up to a maximum loan of P150,000 based on their project proposal submitted.
"At this time of economic difficulties, we will encourage initiatives by school and community-based associations to generate additional income for their members and their community," Binay explained.
Jeremias Oliman, chief of the Makati Cooperative Development Office, said that they have a total of 30 registered cooperatives; 11 are school multi-purpose cooperatives while 19 are barangay-based cooperatives.