FARMERS and fishermen of Candoni, Hinoba-an, Ilog, Kabankalan, and Sipalay City (Chicks) area or the Sixth District in Negros Occidental will benefit from the government’s financing dubbed as Production Loan Easy Access (Plea) program.
Agriculture Secretary Manny Piñol committed P30 million loan fund, with P5 million for each local government unit.
During the “Tapatan: Gobyerno kag Pumuluyo” forum in Ilog on September 28, Piñol had learned that local farmers are paying an interest of three sacks of rice for every P1,000 they borrow from private lenders.
“With this lending facility under the Agricultural Credit Policy Council (ACPC), farmers can loan P5,000 to P50,000, without collateral, six percent interest rate per annum, and shall be payable in one to two years,” he said.
Piñol urged farmers and fisherfolk to be responsible in paying their loans to ensure the sustainability of the program.
He added that farmers and fishers who will avail of the loaning program shall undergo one-day orientation by ACPC and they will be issued with Juan Magsasaka National Accreditation Card. (PR)