The QUEDANCOR Employees Association (QUEMAS) staging regular noon-time protest in an effort to avert plans of deactivating their office, the Quedan and Rural Credit Guarantee Corporation (QUEDANCOR) by the government administration. QUEDANCOR extends credit to Philippine's lowly farmers, fisherfolk and other rural workers. Primarily tasked to guarantee agricultural loans, in an effort to extend its services to more beneficiaries, the corporation went into direct lending. Short of funds and not getting any financial support from government besides its initial fund provided 30 years ago, the office borrowed money for re-lending. Under poor management, the corporation today can't barely pay interest on its borrowings, add to that the recent swine program mess it got into.
The QUEDANCOR Employees Association (QUEMAS) staging regular noon-time protest in an effort to avert plans of deactivating their office, the Quedan and Rural Credit Guarantee Corporation (QUEDANCOR) by the government administration. QUEDANCOR extends credit to Philippine's lowly farmers, fisherfolk and other rural workers. Primarily tasked to guarantee agricultural loans, in an effort to extend its services to more beneficiaries, the corporation went into direct lending. Short of funds and not getting any financial support from government besides its initial fund provided 30 years ago, the office borrowed money for re-lending. Under poor management, the corporation today can't barely pay interest on its borrowings, add to that the recent swine program mess it got into.
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