Statement of Objectives.
Section 3
SEC. 3. Statement of Objectives. – The purposes of this Act are as follows: (a) Encourage, promote and assist in the creation and organization of CSF Cooperatives, which shall be vested with juridical personality; (b) Enhance the creditworthiness of MSMEs, cooperatives, and NGOs, and broaden their access to the credit facilities of banks; (c) Sustain the continuous flow of credit in the countryside through the establishment of well and prudently managed CSFs which shall serve as surety covers; (d) Build up the capability of cooperatives and NGOs in the areas of credit evaluation, loan and risk management, and good governance principles; (e) Generate more employment and contribute to the poverty alleviation program of the government through increased investments and economic activities; and. (f) Strengthen the CDA by providing it with powers and resources to enable it to effectively regulate cooperatives, including CSF Cooperatives.