Philippine News Agency
3.2K Bicol ARBs relieved from nearly P89-M loans, debts
The government has condoned over PHP88.8 million in loans, debts, and interest for 3,296 agrarian reform beneficiaries (ARBs) in the Bicol Region.
This initiative, which covered approximately 5,397 hectares of agricultural land across Albay, Sorsogon, Masbate, and Catanduanes, included the distribution of land titles and Certificates of Condonation with Release of Mortgage (CoCRoM).
Senator Imee Marcos led the distribution ceremony, emphasizing that the land titles awarded were the result of the beneficiaries' sacrifices and hard work.
One beneficiary, Lorenzo Bronola from Sorsogon, expressed gratitude for the condonation of PHP261,558 in unpaid amortizations, interests, and charges on his land.
This effort aligns with the current administration's commitment to expedite land distribution and improve the lives of farmer beneficiaries, following the enactment of the New Agrarian Emancipation Act in July 2023.
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A total of 1,483 agrarian reform beneficiaries (ARBs) from Bulacan, Aurora, and Bataan have been freed from debts totaling P57.798 million for agricultural lands they received under the agrarian reform program.
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President Ferdinand Marcos Jr. led the distribution of Certificates of Condonation with Release of Mortgage (COCROMs) and Certificates of Land Ownership Award (CLOA) to agricultural reform beneficiaries (ARBs) in Isabela, condoning P1,152,916,073 in agrarian reform debts for 21,496 farmer beneficiaries.
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