Farmers in Tarlac avail of DA’s no-interest loan program

Farmers in Tarlac avail of DA’s no-interest loan program

CITY OF SAN FERNANDO, Pampanga – At least 35 farmers in Tarlac City have availed of loan assistance from the Department of Agriculture (DA) through its Expanded Survival and Recovery Assistance for Rice Farmers (SURE Aid) program.

Each of the farmers received a PHP25,000 loan without collateral and payable for 10 years without interest as the Expanded SURE Aid program was officially launched on Tuesday in Tarlac City.

The program is a joint initiative of the DA through the Agricultural Credit and Policy Council (DA-ACPC) and Land Bank of the Philippines (LBP) aimed at helping farmers recover from the impact of low palay prices.

Tarlac City Mayor Cristy Angeles expressed her full support to the program, which she said, could be a big help to the farmers amid the coronavirus disease 2019 (Covid-19) pandemic.

Angeles said the city government is continuously supporting the agriculture sector especially in this time of crisis to help ease its adverse impact on the farmers as well as the fisherfolk.

Among those who qualified to avail of the program are small farmers tilling one hectare of land and below, members of cooperatives recognized by the ACPC and the fisherfolk in Barangay San Juan de Mata in Tarlac City.

The LBP has tapped DA-accredited service conduits such as cooperatives that will disburse loans to eligible beneficiaries. (PNA)

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