Agrarian-Organization’s credit line up to 250%

news reg 3 pix 1 aug 7 2017Farmer-members of the Baleguian Organic Farmers Irrigators Association (BOFIA) in Jabonga town are jubilant after the Department of Agrarian Reform (DAR) approved an increase on their credit line under the government’s Agrarian Production Credit Program (APCP). 

In the first semester of this year, BOFIA’s approved credit line reached up to P5 million or about 250 percent from the P2 million credit line granted to them in 2016.  

Recognized as the outstanding organization in 2016 for its excellent performance and impressive growth, BOFIA represents the fastest growing agrarian-organization in Agusan del Norte for its micro-lending under APCP. 

Provincial Agrarian Reform Program Officer Andre B. Atega said that BOFIA’s economic success was due to the strict discipline system practiced by the ARBO which resulted to a 100% repayment of loans to its members. 

According to APCP Point Person Luningning B. Ycoy, the loan assistance for BOFIA’s integrated rice production has benefitted 63 members who were also covered by crop insurance package in partnership with the Philippine Crop Insurance Corporation (PCIC). 

Ycoy said that BOFIA was granted an initial credit release of P 900,000 last March 2017, benefitting 24 Agrarian Reform Beneficiaries (ARBs) covering an area of 36 hectares. The second credit release amounted to P 1,452,500 last April with 27 ARBs benefitted, covering an area of 51 hectares. 

Winefredo Maldo, an ARB and the Chairperson of BOFIA, said its members’ income now increased because of low interest rate compared from informal moneylenders such as traders and input suppliers. 

According to Maldo, his fellow farmer-beneficiaries are now able to support their children to school. Some said that they can now buy their household needs, and able to purchase agricultural inputs. 

“Nagpasalamat kami ni President Duterte ug sa iyang tinugyanan sa ahensya nga si DAR Secretary Rafael “Ka Paeng” Mariano, na usa usab ka mag-uuma, usa ka tawo nga maantigo nga mosabot sa panginahanglanon sa mga maguuma,” (we are just thankful to President Duterte for appointing DAR Secretary Rafael ‘Ka Paeng’ Mariano, who is also known for being a farmer, for his initiative to meet the needs of the farmers,” Maldo said in vernacular. 

The program is a joint credit and capacity development initiative among the DAR, DA and Landbank. It is designed to respond to the credit needs of ARBs for various economic projects such as agricultural crop production, agri-enterprise and livelihood projects.  (Gil Miranda)

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