2M farmers to benefit from new agri credit facility

MANILA – Over two million Filipinos will benefit from the new credit facility that the Marcos administration launched this week, allowing registered farmers to avail of up to P60,000 in subsidies during cropping season.

At the Saturday News Forum, Department of Agriculture (DA) Assistant Secretary and spokesperson Arnel De Mesa said the Agri-Puhunan at Pantawid Program (APP) is provided on top of existing government subsidies to farmers, such as seeds, irrigation and machinery.

APP beneficiaries will receive a net amount of P58,000 for production costs and a subsistence allowance of P8,000 for four months.

"P60,000 kada cropping season. So, hindi na mamumroblema iyong ating mga magsasaka kung saan sila kukuha ng additional na panggastusin nila, additional na pera para pambili ng fertilizer or additional inputs doon sa kanilang sakahan (This will be a total of P60,000 every cropping season. So, they won't have to worry anymore where they will get their additional money to but fertilizers and additional inputs for their farms)," De Mesa said.

"This is good for farmers na hindi lalampas sa dalawang ektarya iyong sinasaka. Sa mga rice farmers, more than two million rice farmers ito na makikinabang sa buong Pilipinas (for farmers who tend to no more than two hectare of land. Nationwide, more than two million farmers will benefit from this)," he added.

De Mesa said the beneficiaries will receive an Interventions Monitoring Card (IMC) that they can use to purchase seeds and fertilizers, which is also linked to DA's accredited suppliers.

"Ang pangunahin (na layunin) dito is makakawala sila doon sa mga (Our main goal here is to help them free themselves from) loan sharks," he said.

"Imagine mo, sa 5-6 that's 20 percent per month – ito one percent sa isang cropping season o sa kalahating taon ay two percent per annum. Halos hindi ramdam ito ng ating mga magsasaka (Imagine, if they are loaning via 5-6, that's 20 percent per month. With this, it's only one percent per cropping season or two percent biannual. It won't be a burden to them)," he said.

President Ferdinand R. Marcos Jr. led the launch of the Agri-Puhunan at Pantawid Program in Guimba, Nueva Ecija on Friday. (PNA)