Paglaum Multi Purpose Cooperative and Best Brands Sign MOA for Renewable Energy Program
Last March 15, 2016, PAGLAUM Multi-Purpose Cooperative (PMPC) founding leader and Cooperative Sector Representative to the National Anti-Poverty Commission of the Office of the President Mr. Gadwin Handumon and BEST BRANDS President Mr. Angelo Valenton signed a Memorandum of Agreement at the PMPC Head Office in Plaridel Misamis Occidental, officially launching the PAGLAUM RENEWABLE PROGRAM ENERGY PROGRAM (PREP). The MOA signing was also witnessed by PMPC Chairwoman Luz Moneva, Lysette Asombrado and Ron Limbo from PMPC DevSEA, RG Salazar, Anna Manahan and Ruben Salvador of Micro Finance Council of the Philippines Inc. (MCPI) DEV Sea and PMPC’s Management Team.
PREP was made possible with the support of MCPI and its DevSEA (Developing Sustainable Energy Access) initiative. The program aims to enable the provision of sustainable energy products to micro and small businesses through MFI-based energy financial products. It focuses on the potential of microfinance mechanisms to provide clean energy solutions in regions with poor infrastructure, thereby achieving triple bottom lines. By enabling access to green energy through inclusive financial services, DevSEA contributes to local economic development, improved energy access of MFI clients, diversification of MFI portfolio, and the mitigation of climate change. It envisions a creation of an established and recognized energy arm of the Philippines microfinance industry.
PMPC was organized in 1992 by a group of 35 hopeful parents and workers of Paglaum Community Development Foundation Inc. (PCDFI). With the initial capital of P2,000.00 pooled resources, the cooperative was established as an economic arm of the foundation and started to buy and sell Palay. Paglaum mission is to contribute to the empowerment of the members and community in improving their own lives thru the provision of quality cooperatives services and programs. Now Paglum reached its total asset of 629M and helping its 52, 000 members in 14 locations within Misamis Occidental, Zamboanga Peninsula, and Central Visayas.
BEST BRANDS through its POWER4ALL initiative provides community access to simple yet cutting edge solutions to light, power and clean water geared towards off-grid areas.
Now PMPC, MCPI, DevSEA and BEST BRANDS are beginning to provide a bright future to off gridcommunities in Mindanao and a ray of HOPE for everyone.