P2.4-M Loan To Finance Sugar Cane Production In Davao Del Sur

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dar web news pix 1 march 10 2014 400A total of P2.4-million loan is approved to finance a 41-hectare sugarcane production in the municipality of Kiblawan, Davao del Sur to boost the economic condition of the farmer-beneficiaries of Comprehensive Agrarian Reform Program (CARP) in the said municipality.

DAR Director John Maruhom said the loan package, funded by the Land Bank of the Philippines (LBP) under the Agrarian Production Credit Program (APCP), targets to bring about sixty percent increase in sugarcane production from 50 to 75 tons per hectare in the targeted sites.

“The APCP is a vehicle through which the appropriate financial and technical services will be availed by ARBS as this is specially tailored for ARBOs that do not yet qualify under the LBP’s regular lending window and the Credit Assistance Program for Program Beneficiaries Development (CAP-PBD),” Maruhom said.

dar web news pix 2 march 10 2014 300Maruhom said the loan will be granted to two (2) agrarian reform beneficiaries organization (ARBOs) – the Pasig ARBs and Upland Farmers Multi-Purpose coop (PARBUFMPC) and Cogon Bacaca ARS MPC (COBARBEMPCO), both from the town of Kiblawan.

“The Department of Agrarian Reform (DAR), Dept. of Agriculture (DA) and LBP have pooled resources and expertise to help ARBs in terms of providing credit at an affordable cost, development assistance and marketing support,” he added.

Signing the loan agreement were DAR Regional Director John D. Maruhom, DA Regional Director Renelyn R. Recoter, LBP’s Lending Center Head Charlotte Conde, Raymundo Daub Sr. and Josephine Barsalote of COBARBEMCO and PARBUFMPC respectively.

Provincial Agrarian Reform Program Officer Juancho Calud said Kiblawan municipality is one of the identified sites for Agrarian Reform Community and Connectivity Economic Support Services (ARCCESS) targeted for sugarcane block farming.