Php2.4 million loan releases for Agusan Del Norte farmers

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 ZZ WEB 20160412 NATL CARAGA REXY PH1The Department of Agrarian Reform (DAR) and Department of Agriculture (DA) recently released Php 2.4 million loan package as part of their credit program to Baleguian Organic Farmers Irrigators Association (BOFIA) in Jabonga and Maong Agrarian Farmers Cooperative (MAFCO) in Cabadbaran, Agusan del Norte.

DAR Provincial Agrarian Reform Program Office II Andre B. Atega said the loan package is a form of assistance under the Integrated Rice Production and Marketing Program of DAR and DA intended for the said agrarian reform beneficiaries organizations (ARBOs) that will specifically benefit 77 association-members in BOFIA and 11 members in MAFCO.

Atega said BOFIA earlier contracted the same loan from Agrarian Production Credit Program (APCP) in 2014 and 2015 amounting to Php 813 thousand and Php 1 million pesos, respectively. BOFIA was able to accomplish 100% repayment before the maturity date of the loan, which made them an awardee during the March 2016 repayment performance recognition ceremony.

 BOFIA Chairman Wenifredo Maldo said “the credit program of the government enables the irrigator-members to sustain and improve rice production.”

The APCP is a partnership credit program of DAR and DA and managed by the Land Bank of the Philippines. (Gil E. Miranda)