December 8, 2023

Department of Trade and Industry Sec. Ramon Lopez has lauded the role of cooperatives as “financial frontliners” during the pandemic for reaching and assisting small businesses with limited access to financial institutions and government agencies.

“You are our essential allies in empowering MSMEs (micro, small, and medium enterprises) and extending government services to our MSMEs at the grassroots level who are based in far-flung areas of the country,” Lopez said in his solidarity message during the opening of the celebration of Cooperative Month.

He emphasized the need to support MSMEs to thrive amid the global health and economic crisis.

“These entrepreneurs are important contributors to our country’s inclusive and sustained economic growth strategy,” Lopez said, adding the Cooperative Development Authority has been DTI’s partner in providing financial services and assistance to MSMEs.

He likewise lauded the CDA for making its services accessible up to the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), especially during the pandemic.

The CDA has 12 million members with total assets amounting to P573 billion and a net surplus of P23.5B.

“You will always remain an integral partner of DTI in nation-building and empowering our people to achieve a better quality of life,” Lopez said. – PNA