Belmonte distributes P1.5-M for livelihood

Quezon City Mayor Feliciano Belmonte Jr. distributed yesterday P1.5 million in livelihood assistance checks to 176 beneficiaries of the Puhunang Pangkaunlaran ng Sikap Buhay (PPSB) livelihood program of the city government.

Belmonte, assisted by Councilors Godofredo Liban III and Ramon Medalla awarded checks of P5,000 to P10,000 to residents in Barangays Payatas, Old Balara, Baesa, Magsaysay, Commonwealth, Damayang Lagi and Culiat.

The mayor congratulated beneficiaries who have set up small businesses like balut vending and sari-sari stores to augment family income.

The Sikap Buhay program, which is being implemented by the city government, National Livelihood Support Fund (NLSF), the Cooperative Rural Bank of Bulacan, Euro Credit and the Novaliches District Cooperative, has proven to be a success in Quezon City.

According to Antonio Ortiz, executive director and CEO of the NLSF, the success of Sikap Buhay will be replicated in other areas in the country.

"We have a 98 to 100 percent loan repayment in Quezon City, and we intend to replicate this model in our programs," Ortiz said.

To date, 2,391 beneficiaries in 31 barangays in the city have benefited from the program.

Ortiz said the microfinancing program, which was launched in February 2002, has disbursed over P16 million.

"Our target is at least 18,000 beneficiaries in Quezon city by yearend," Ortiz said. – Perseus Echeminada