Manila Bulletin
DA to set aside ₱1-B for loan assistance to farmers, fisherfolks
The Department of Agriculture (DA) has approved an initial P1 billion loan assistance for marginal farmers, fisherfolk, and agri-fishery micro and small enterprises (MSEs) to help them cope with the adverse effects of the enhanced community quarantine.
The financing program, implemented through the Agriculture Credit Policy Council (ACPC), aims to increase farm productivity and ensure food sufficiency during the COVID-19 pandemic.
Eligible MSEs can borrow up to P10 million with zero interest and a repayment period of up to five years.
Individual farmers and fisherfolk may also avail themselves of a P25,000-loan without collateral, also at zero interest, payable in 10 years.
Only one borrower is allowed per farm or fisher household, and those participating in the DA's Kadiwa program will be given priority.
Topics in this story
Explore more stories about these topics.
🤖
This story was generated by AI to help you understand the key points. For more detailed coverage, please see the news articles from trusted media outlets below.
News Sources
See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.
Around 600,000 rice farmers will receive a P5,000 cash assistance this week from the Department of Agriculture (DA) to help them cope with the enhanced community quarantine.
+1
Read more →
The Land Bank of the Philippines has launched a ₱10-billion emergency loan program called HEAL (Help via Emergency Loan Assistance for LGUs) to support local government units in their fight against COVID-19.
Read more →