Valenzuela grants micro-finance solutions to displaced traditional jeepney operators

Valenzuela City Mayor Rex Gatchalian (center) with some of jeepney operators who availe of the local government's assistance provided under the PUV Modernization Program. (Photo credit: Valenziela City PIO)

CALOOCAN CITY, Dec. 11 (PIA) -- The Valenzuela City Government is offering financial assistance to qualified traditional jeepney operators as part of its PUV (public utility vehicle) Modernization Program.

Mayor Rex Gatchalian said the city is offering micro-finance solutions to displaced jeepney drivers to help them in their livelihood while also assisting them to meet the standards of the government’s modernization program.

Under the program, operators would receive financial assistance payable in two years by installment without interest.

The local government grants the financial assistance to help the owners and operators of traditional jeepneys with their application to be duly organized as a cooperative, which is also a requirement for them to qualify in applying for a bank loan which will be used to shift into modernized jeepneys.

In the awarding of the loan earlier held at the Audio Visual Room of the Valenzuela City Hall, Mayor Rex thanked all the jeepney drivers of Valenzuela Bignay-Meycauayan Transport Cooperative and Malanday Valenzuela Transport Cooperative who both fervently sought solutions to apply for the PUV Modernization Program.

“Gusto ko pasalamatan yung dalawang grupo [Valenzuela Bignay-Meycauayan and Malanday Valenzuela Transport Cooperative] at mga opisyales niyo dahil sineryoso niyo at kumilos kayo. Ang importante samin ay ang good faith na pinakita niyo na nag-pursige kayo. Sa mata ko iba iyon. Humakbang kesa hindi humakbang. Asahan niyo na madaling kausap ang Pamahalaang Lungsod ng Valenzuela,” he said.

The Valenzuela Bignay-Meycauayan Transport Cooperative received P360,000, while Malanday Valenzuela Transport Cooperative receives P282,500 financial assistance, respectively from the local government.

A six-month grace period upon the start of the normal operation of the modernized jeepney will be given to the beneficiaries to start the repayment by installment up to two years.

As the new normal in public transportation becomes a daily reality, the City Government of Valenzuela is making sure that the livelihood of traditional jeepney drivers will be enhanced so that they will continue to provide for their families.



Source: Philippines Information Agency (pia.gov.ph)

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