Inquirer
Over 5,000 Negros Oriental farmers benefit from loan condonation program
More than 5,000 agrarian reform beneficiaries (ARBs) in Negros Oriental have benefited from a PHP692 million loan condonation program implemented by the Philippine government in 2024.
The Department of Agrarian Reform (DAR)-Negros Oriental distributed 6,612 Certificates of Condonation with Release of Mortgages (CoCRoM) to 5,321 ARBs, covering over 7,600 hectares of land.
This initiative is part of the New Agrarian Emancipation Act (Republic Act No. 11953), which aims to forgive principal loans, unpaid amortizations, and interests for ARBs under government land reform programs.
DAR-Negros Oriental plans to expand the CoCRoM project next year, targeting an additional 40,000 hectares of agricultural land.
Officials believe the program will empower farmers, enhance their productivity, and foster a greater appreciation for the land they received through government land reform.
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Senator Francis Tolentino led the distribution of 8,722 loan condonation certificates to 7,225 agrarian reform beneficiaries (ARBs) in Mindanao, condoning P289 million in unpaid debts tied to their farmlands.
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Over 5,200 agrarian reform beneficiaries (ARBs) in Iloilo and Guimaras have been freed from P314.66 million in debts through the release of Certificates of Condonation with Release of Mortgage (CoCRoM).
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