News Updates

The latest news about Aurora mined from the internets:

Ecozone boon to Aurora – Angara. From the Philippine Real Estate News:

The creation of the Aurora Special Economic Zone Authority here will open doors of opportunity for local residents and lift them from four centuries of grinding poverty.

Sen. Edgardo Angara told residents of barangays Dibacong, Dibet and Esteves that the ecozone project will generate employment and provide opportunities for residents.

Read the complete news

Aurora town mayor, aides nabbed in QC and then Aurora town mayor in gun raps freed. from inquirer.net

Police released late Friday the mayor of a town in Aurora whom they had taken into custody along with his aides and a bodyguard, after high-powered firearms were found in his vehicle in Quezon City.

Superintendent Franklin Moises Mabanag of the Quezon City Police District’s Criminal Investigation and Detection Unit said Victorio Briones, 49, and the others were released on condition they would return with the documents for the firearms.

Read the complete news here and here

Speaking Out: Ermita Hill before & after. from Tempo online:

The scenic Ermita Hill, one of the most historical places in Baler, Aurora Province, bore witness to the launching of the second Credit Surety Fund in the country two weeks back.

Read the complete news

From the windy hill, one has a commanding view of the Pacific Ocean and the beaches of Baler which are fast becoming another favorite destination for local and international surfers. Residents recall the great flood which devastated Baler in the 1700s. The townfolks scampered to seek refuge in Ermita Hill but only five families reportedly made it safely to the top. Among the five were the Angaras, great great great grandparents of Senator Edgardo Angara and Aurora Governor Bellaflor Angara-Castillo (my former congressional colleague), who started rebuilding Baler as soon as the floodwaters receded.

Historic Baler, birthplace of former President Manuel Luis Quezon, was also the scene of the Siege of Baler, which has been immortalized in the award-winning film starring Jericho Rosales, Anne Curtis and Philip Salvador. Towards the end of Spanish rule in the Philippines, 57 Spanish soldiers made their last stand inside the church of Baler. (Governor Angara Castillo later gave us a guided tour of the church as well as other points of historical interest such as the replica of the Quezon house and the Museo de Baler.)

Refusing to believe that the war had ended, the Spaniards held off Filipino revolutionaries for almost one year. About half of the Spaniards died inside the church of Baler due to beri-beri and starvation. When they finally surrendered, President Emilio Aguinaldo, who admired the Spaniards’ courage and loyalty, extended the “Los Ultimos” safe passage to Spain where they received appropriate military honors.

Together with BSP officials led by Deputy Governor Armando Suratos, Deputy Governor Nestor Espenilla Jr., Assistant Governor Rene Carreon, General Counsel Juan de Zuñiga Jr., and fellow Monetary Board Members Raul Boncan, Alfredo Antonio, we flew into Baler to launch the Aurora Coopreneur Surety Fund with the signing of a Memorandum of Agreement between the BSP, the Aurora Province represented by Governor Angara-Castillo; the Development Bank of the Philippines, represented by President Reynaldo G. David; the Department of Trade and Industry-Aurora, represented by Adelfo Diaz, and the heads of 11 cooperatives in the province. Also in attendance was former Philippine Ambassador to Spain, Joseph Delano Bernardo, who has been appointed as head of the newly-created Aurora Special Economic Zone Authority.

It was only last August when the first loan surety facility of its kind was introduced in Trece Martires, Cavite with the signing of a similar MOA with the Cavite provincial officials led by Governor Irineo ‘Ayong’ Maliksi.

The MOA provides micro, small and medium enterprises (MSMEs) with credit enhancement support to encourage banks to accelerate the flow of credit to the countryside.

The Credit Surety Fund, conceived by then BSP assistant governor Andy Rustia (now retired) and pursued vigorously by a BSP team led by Rosalinda Dumaliang, seeks to encourage banks to lend to small businesses by facilitating the banks’ collection from the fund in case of a borrower default.

The CSF makes sure that in such an eventuality, the lending banks can draw from the fund within 14 calendar days after submission of the required documents.

The MOA seeks to encourage the establishment, expansion and refinancing of small and medium size industrial, agro-industrial, agri-business and other enterprises to generate more economic stimulus in Aurora and, hopefully, every province of the country.

The establishment of such a fund is especially significant in the beautiful province of Aurora, where agriculture, fishing, and forestry are the main sources of livelihood.

The province’s development lies heavily on developing its resource-based industries and improving its products. The Aurora Province website lists food processing activities (such as the processing of local products like cassava, gabi, ube, coffee and peanuts) and forest-based industries like furniture-making and handicraft manufacture as attractive ventures for Aurorans.

The MSMEs behind these industries continue to provide employment to many of the province’s residents. The CSF addresses the problems of small entrepreneurs by allowing them to gain access to credit from banks and consequently finance their working capital requirement and fixed assets acquisition despite the absence of acceptable hard collaterals.

Mr. Reysan Gantuangco of the BSP Department of Loans and Credit said the Aurora CSF has an initial funding of P3.3 million, and could provide surety cover to as much as P33 million in new loans to qualified cooperatives.

The cooperatives that helped put up the Aurora CSF are: ASCOT Faculty and Staff Multi-Purpose Cooperative, AURELCO Employees Multi-Purpose Cooperative, Aurora Multi-Purpose Cooperative, Inc., Casiguran District Hospital Employees & Community Multi-Purpose Cooperative, Cooperative Bank of Aurora, Cordillera Multi-Purpose Cooperative, Glory to God Multi-Purpose Cooperative, Lingap Baler Multi-Purpose Cooperative Inc., Maria Aurora Development Cooperative, NFA Aurora

Employees Multi-Purpose Cooperative, and Pangkasama Multi-Purpose Cooperative.

Mr. Gantuangco said the heads and loan officers of the cooperatives would undergo capacity-building program training, including briefings on how to evaluate loan proposals.

Enthusiasm for the CSF project has been snowballing. In Bohol, where the next CSF would be launched in the middle of this month, former congressional colleague, Governor Erico Aumentado, says a record number of 36 cooperatives have collaborated to put up the fund.

There is indeed increasing recognition of the importance of small businesses in the Philippine economy, where many of today’s giant businesses started small.

by: Atty. Ignacio R. Bunye

About kidlat

Joseph T. Gonzales, aka Kidlat is the creator of Batangbaler, the website and online community of all the scattered Balereños and Aurorans on Earth. He is based in Baler.

2 thoughts on “News Updates”

Leave a Reply