Belmonte told business and civic leaders during a testimonial dinner at the Celebrity Plaza that Sikap Buhay which is a joint microfinancing program implemented by the city government and the National Livelihood Support Fund (NLSF) is now attracting participation from financial institutions because of its success particularly in poor areas in the city.
"Many financial institutions are now interested in extending loans to Sikap Buhay members," Belmonte said.
NLSF executive director Antonio Ortiz, who was among those who paid tribute to Belmonte, said the news about the success of the Sikap has also caught the attention of other local government units interested in replicating Quezon City’s success.
"We have now adopted Sikap Buhay as a model for the nationwide livelihood assistance program of the national government," Ortiz said.
He said Sikap Buhay partners — the Cooperative Rural Bank of Bulacan, Eurocredit and the Novaliches District Cooperatives have extended over P16 million in loans to 31 barangays in the city.
The program, which has over 3,000 beneficiaries, is targeting a total of at least 18,000.
Belmonte narrated that during the initial implementation of the program in February 2002, financial institutions were initially reluctant to extend loans to poor entrepreneurs.
Sikap Buhay is one of the priority pro-poor programs being pursued by the city government to empower the city’s poor to become productive citizens.
Most of the beneficiaries are housewives who are engaged in small businesses such as sari-sari stores, buy and sell and balut vending. – Perseus Echeminada