New UCPB chief Jeronimo Kilayko ‘bad news’ for coco farmers

TACLOBAN CITY, Philippines—A coconut farmer’s group in Eastern Visayas has described as bad news the appointment of banker Jeronimo Kilayko as new president and chief executive officer of the United Coconut Planters Bank (UCPB).

Alberto Ada, director of the Konpederasyon Han Parag-lubi ha Samar (Kopras), said Wednesday that Kilayko’s appointment might only jeopardize their claims to the coconut levy fund especially that the 64-year-old banker was closely associated with business tycoon Eduardo “Danding” Cojuangco.

Kopras has more than 500 coconut farmer-members in Samar.

“His appointment (is not) a victory to the farmers. The claims of the coconut farmers for the return of the coco levy funds to them may further not be realized. The farmers have been seeking this,” he said, referring to the distribution of the coco levy funds among coconut farmers.