DA releases P2.6-B loans

under SURE aid program

The Department of Agriculture (DA) has released more than PHP2.6 billion worth of loans under the Expanded SURE Aid and Recovery Project for micro and small enterprises (MSEs), and small, marginal farmers and fishers adversely affected by the quarantine measures due to the coronavirus disease 2019 (Covid-19) pandemic.

During the third Pre-State of the Nation Address (Pre-SONA) forum on Wednesday, Agriculture Secretary William Dar said the agency, through the Agricultural Credit Policy Council (ACPC), has released to its partner lending conduits PHP1.12 billion in loans for eligible farmers and fishers and PHP1.5 billion for MSEs.

Dar said as of date, PHP767 million was lent to some 30,699 small, marginal farmers and fishers, while PHP646 million was lent to 93 enterprises engaged in agriculture and fisheries production.

Under the SURE Covid-19 loan program, eligible farmers and fishers may borrow up to PHP25,000, with no collateral, zero interest, and payable in 10 years.

Eligible MSEs may avail of up to PHP10 million, zero interest, and payable in five years. A micro or small enterprise may be a single proprietorship, partnership, corporation, cooperative or association.

Aside from the loan program, Dar said the DA has also extended financial subsidy to rice farmers (FSRF), with a total of 591,246 beneficiaries benefitting from this pandemic relief.

The PHP5,000 cash subsidy is part of the DA’s initiatives to assist small rice farmers, who plant one hectare or less, located in 24 provinces not covered under the Rice Farmers Financial Assistance (RFFA) program.

The PHP3-billion FSRF fund is earmarked under the 2020 General Appropriations Act.

For the RFFA, Dar said another PHP3 billion was allocated and some 597,404 beneficiaries benefited from this amelioration program.

The RFFA Program is an unconditional cash transfer program which aims to give PHP5,000 financial assistance each to rice farmers tilling 0.5 to 2 hectares of land in 33 provinces nationwide.

Meanwhile, Dar noted that the Kadiwa ni Ani at Kita direct marketing program has recorded a total sales of PHP5.5 billion nationwide.

Some PHP2.24 billion worth of produce were bought by local government units under the same direct marketing program.

"Sinisiguro po natin na meron tayong sapat na pagkain (We want to make sure that we have enough food) during the pandemya (pandemic) and we would like to believe that we can survive and we can reboot again Philippine agriculture with the help of President Rodrigo Roa Duterte," Dar said.

Dar urged the Filipinos to be resilient and turn challenges into opportunities “to survive and move forward towards a food secure and more resilient Philippines with prosperous farmers and fishers”.

"I would like to conclude by saying that no amount of pandemic and or impacts of climate change can slow us down. No lockdown can really delay our activities in farming and fishing,” he added. (