DA credit, policy council releases almost P3-B in loans

DA credit, policy council releases almost P3-B in loans

MANILA – The Department of Agriculture through the Agricultural Credit and Policy Council (DA-ACPC) have released almost PHP3 billion worth of loans under the Expanded Survival and Recovery Assistance Program for Rice Farmers (SURE Aid) and Recovery Project for micro and small enterprises (MSEs), and small, marginal farmers and fishers adversely affected by the quarantine measures due to the coronavirus disease 2019 (Covid-19) pandemic.

Executive Director Jocelyn Badiola mentioned on Tuesday’s press briefer that they have continued to serve borrowers from the agricultural sector to finance their emergency and production requirements.

Badiola shared that as of April 2021, the government’s Covid Sure Aid has released PHP2,897,496,947.

For small farmers and fishers borrowers, the amount released reached PHP2,057,965,000 with 82,113 total borrowers nationwide.

The PHP25,000 maximum loanable amount per household has zero interest and is payable in 10 years.

While for the micro and small entrepreneurs, DA-ACPC allows up to PHP10 million of loan per borrower with zero interest and also payable for 10 years.

Badiola underscored this is to provide the working capital requirement of duly registered agri-fishery MSEs to ensure the availability of food supply and help them recover their losses incurred from the effects of the community quarantine. (PNA)

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