AKFI earmarks P800 million for multipurpose centers

MANILA, Philippines — The Angelo King Foundation Inc. (AKFI), the philanthropic arm of the late Filipino-Chinese motel magnate Angelo King, has earmarked about P800 million to build new multipurpose centers for farmer and fisher cooperatives across the country.

AKFI vice president Joaquin Sy told The STAR last week that they have set a funding pool of P700 million to P800 million.

“We build these centers through the Philippine Business for Social Progress (PBSP). They are our main partner before,” Sy said in an interview on the sidelines of a forum the foundation organized last Saturday.

He added that the foundation aims to build 10 new multipurpose centers this year, depending on requests from cooperatives and recommendations from PBSP offices.

“These are simple facilities. Cooperatives can use them according to their needs, some as office space, others as warehouses and some convert them into meeting areas,” Sy said.

He also noted that in times of calamities, some centers are used as evacuation sites for local communities, providing a safe space for families and neighbors during storms, floods or other emergencies.

Since its founding, AKFI has built roughly 350 multipurpose centers in partnership with the PBSP.

The centers cover multiple regions of the country in Luzon, Visayas and Mindanao.

Sy said the foundation continues to support farmers and fishers by providing them with physical spaces that strengthen cooperative work and community collaboration.

Angelo King, who built a business empire that included popular brands such as Anito Lodge and Victoria Court, passed away on Aug. 16, 2021, at the age of 94.