SEA-K ALLEVIATES IVATAN POVERTY
(by PIA-Batanes)

DSWD assistance to livelihood projects, a truly pro-poor-project was first implemented in 1995 and the project is now showing progress as it alleviates poverty among the Ivatans.

The assistance is in the form of interest-free loan. Self-Employment Assistance sa Kaunlaran (SEA-K) was availed by 4 association-beneficiaries (with 25 members per group) the seed capital of P400,000.00 or P100,000.00 each group. The loan is payable for two years so fast income-generating-projects should be undertaken and these are businesses as sari-sari store, hog raising, handicraft-making and buy and sell ventures. Such loan is soft and repayment is soft. The association-beneficiary pays P80.00 a week (P40.00 for repayment and P40.00 for group saving). That explains that after two years, the P100,000.00 loan is repaid and P100,000.00 has been accumulated as savings. The weekly P80.00 is indeed soft. They pay to the DSWD which will deposit it in the bank. At the end of the 24 month, the association is entitled to the accrued interests from both capital and saving. The DSWD collects only P100,000.00.

A good association-payor normally gets in return some P15,000.00 as they graduate from the loan. This is viewed as a profitable soft loan.

The progress of the SEA-K is evidenced by the tripled association groups in 1999 from the 4 groups in 1995. Now the 13 associations are availing P1.3 million seed capital.

Basco Municipal Social Welfare Development Officer Mrs. Toedora Abengana monitors the beneficiaries in Basco. So are, other municipalities monitored by their MSWDO.

The best performers among the association beneficiaries are 1st- San Joaquin (Valugan) of Basco, 2nd-San Antonio (Diptan) of Basco, and 3rd-Chanarian-Tukon of Basco.

After repayment, they could still apply for a renewed loan if desired to augment their P100,000.00 savings.