Ontario, Canada:The projects of the Oas Poverty Alleviation Program/Oas Micro Finance (OPAP/OMF) are starting with a whimper. This is not in any measure a characterization of this program but rather the most practical way to jump-start the projects under the looming global economic crisis. The abbreviated two projects have been defined in the two Resolutions approved by the Core Group.  

Mr. Mel Romano has proposed the setting up of a Veggie Agrifarm Project.  This project has to be financed under the Ancillary Projects of the OMF / OPAP. This Resolution shall cover the following:

1. The approval of a Veggie Agrifarm Project as prescribed in the attached project proposal made by Mr. Mel Romano. The project has been downsized accordingly corresponding to the funds available.

2. An appropriation of P20, 000.00 to cover the above project and will be disbursed according to the prescribed project proposal as amended.

3. Mr. Mel Romano is tasked to oversee the implementation of this project. In addition, he is directly responsible in the reporting of the project development in line with the transparency program of OMF / OPAP.

4. The first cycle implementation of the project is March 2009 and thereafter. A project development report will be then available for the Balikbanwa09 forum to underscore the start of the OMF/OPAP projects.

OMF / OPAP Resolution 02-09
Initial Lending Projects

Mr. Greg Conde has set up a special project initiative (SPI)- a lending project amounting to P5, 000.00 which is not technically within the OMF / OPAP procedures; but shall however serve as a learning process for OMF / OPAP lending strategy.

This resolution provides the adoption of the above project as a quasi-OMF/OPAP project and appropriating an amount equivalent to 2.5% of the capital (P5, 000.00) to be taken from the OMF/OPAP to underwrite the maintenance expense of the project.

This Resolution further provides an initial funding to cover the first batch of recipients of the OMF / OPAP actual lending program.

1. The role of OMF / OPAP in the implementation of the SPI is basically strategic. Greg Conde will privately fund it with a minimal expense from the OMF/OPAP with the administrative and operationss expertise of Tess Rayala and Alice Rayco.

2. The 100% SPI appropriation of P5, 000.00 shall be lent to borrowers at the discretion of Tess Rayala and Alice Rayco

3. This SPI shall serve as a ‘learning process’ in the implementation of the OMF / OPAP initial lending scheme and thereby making it a quasi-project. The Core Group shall conduct a thorough evaluation of this SPI before considering any initial lending activity.

4. An initial lending fund of P20, 000.00 shall be appropriated to cover the first batch of recipients to be drawn from the OMF / OPAP funds.

5. Strict compliance of OMF / OPAP lending and transparency guidelines shall be adhered to.

6. This will take effect as soon as possible but not prior to the evaluation of the SPI.