24 billion pesos in agricultural loans granted

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The Ministry of Agriculture (DA) said more than 408,000 farmers and fishers have benefited from the 24.09 billion peso loans released under the Agricultural Credit Policy Council (ACPC) program from 2019 to 2022.

According to the DA, more stakeholders stand to benefit from Republic Act (RA) 11901, or the “Strengthening Agriculture, Fisheries and Rural Development Funding Act of 2022”, which became law in July. RA 11901 repealed RA 10000, or “Agri-Agra Reform Credit Act of 2009”.

The new law is expected to boost the productivity and competitiveness of the agriculture and fisheries sector by improving accessibility to affordable financial services and programs, expanding its coverage and giving more flexibility to financing institutions.

It requires banking institutions to design and offer financial products and services tailored to the specific needs of their agricultural clients.

The Bangko Sentral ng Pilipinas (BSP) is also committed to effectively implementing RA 11901 taking into consideration the needs of the rural community beneficiaries and how the law will contribute to the recovery of the sector.

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ACPC offers credit programs with flexible loan terms as it recognizes the importance of providing affordable and accessible financial services to smallholder farmers, fishers and micro and small enterprises (MSEs) to increase competitiveness, productivity and the sustainability of the agriculture and fisheries sector. .

The agency serves 439 unbanked municipalities, or 90% of all unbanked municipalities in the country.

From 2019 to 2022, the CAAA made loan disbursements through its 16 credit programs and facilities.

ACPC’s Expanded Relief and Recovery Project SURE (SURE Covid-19) provided loans worth 3 billion pesos to 103,533 smallholder farmers and fishers and 195 agricultural MSEs.

The regular Agri-Negosyo (ANYO) program has also released 1 billion pesos in financial assistance to 13,258 small-scale farmers and fishers and 144 agro-fishery-based MSEs. For ANYO Swine Repopulation, Rehabilitation and Recovery (Swine R3), 2,528 pig farmers benefited from loans totaling 252.4 million pesos, while for ANYO Agri-Pinay, 28 women received loans worth 19.83 million pesos.

In addition, 775 farmers and one organization benefited from loans worth 121.5 million pesos through support to agricultural value chain finance and capacity building through entrepreneurship and development. organizational development or the ASCEnD project.

Under the Access to Capital Program for Young Agripreneurs (KAYA), 470 young agri-entrepreneurs have benefited from loans amounting to 91.4 million pesos.

For the Regular Survival and Recovery Program (SURE), 21,596 disaster-affected small-scale farmers and fisherfolk benefited from loans worth 417.97 million pesos. On the other hand, the SURE aid program for the Taal calamity has released 50.18 million pula to 2,008 small-scale farmers and fishermen, while the expanded SURE Aid Palay program has provided about 2.5 billion pula from loans to 165,963 small rice farmers.

In addition, total loans of 300 million pesos were granted to a cooperative to serve as working capital in the purchase of palay (unmilled rice) from farmers under the BuyANIhan scheme, while for the Sikat Saka scheme , the ACPC released 4.64 billion pesos to 48,732 farmers. .

Through the Program for Easy Access to Production Loans (PLEA), 30,794 small-scale farmers and fishers received loans worth 1.14 billion pesos.

Eleven cooperatives and associations and three loan groups also received, respectively, loan assistance of 48 million pesos from the CLEA program (Working Capital Loan Easy Access) and 14.05 million pesos in loans from the Agri-Fishery Machineries and Equipment Loan Easy Access (AFME) Program.

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