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Marcos erases P1 billion agrarian debts of 21,000 Isabela farmers
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.
A total of 25,773 COCROMs and 456 CLOAs were distributed during the event, which also included electronic titles for the Support to Parcelization of Lands for Individual Titling (SPLIT) Project.
The COCROMs are authorized by the New Agrarian Emancipation Act, which forgives P57.557 billion in debts owed by ARBs to the government.
President Marcos reiterated the government's commitment to alleviate farmers from financial burdens.
He also urged state universities and colleges to focus agriculture students on seed production to enhance the country's agricultural productivity and ease importation.
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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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The government has condoned over PHP88.8 million in loans, debts, and interest for 3,296 agrarian reform beneficiaries (ARBs) in the Bicol Region.
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