59 orgs to avail loan assistance thru agrarian production credit program

piaBUTUAN CITY, May 26 (PIA) -- A total of 59 agrarian reform beneficiary (ARB) organizations will avail loan assistance through the joint agrarian production credit program (APCP) of the Department of Agrarian Reform (DAR), Department of Agriculture (DA), Department of Environment and Natural Resources (DENR) and the Land Bank of the Philippines (LBP) in 2015.

This was revealed during the coordination meeting of the involved agencies, presided by DAR Caraga regional director Julita A. Ragandang recently.

"This is our intervention along with our partner agencies to provide credit to our farmer organizations, especially those who cannot qualify under LBP's regular lending program," says Ragandang.

Reports showed that in 2008, only 57 percent of the farmers have access to credit from formal lending institutions and almost 500,000 of the 1.4 million agrarian reform beneficiaries nationwide need credit assistance.

In Caraga, P84.7 million will be released this year which will benefit 3,394 agrarian beneficiaries.

Under this partnership, the DA, DAR and LBP shall pool their resources and expertise to help the ARBs in terms of providing credit at an affordable interest rate, development assistance and marketing support.

"The APCP shall be the vehicle through which the appropriate financial and technical services shall be delivered to the ARBs," Ragandang added. (Joie L. Ceballos, DAR-Caraga/PIA-Caraga)

Source: http://news.pia.gov.ph/article/view/1701432209132/59-orgs-to-avail-loan-assistance-thru-agrarian-production-credit-program