A farmers' cooperative in Toboso town, Negros Occidental received P1.5 million as initial grant for the credit support covering 34.2189 hectares that they received from the Department of Agrarian Reform Tuesday.
Milagros Flores, Provincial Agrarian Reform Officer 1 in a statement she issued, aid the grant was approved through Agrarian Production Credit Program and implemented by DAR, Department of Agriculture and Land Bank of the Philippines.
The Bandila, San Isidro and Tabun-ac Agrarian Reform Cooperative has 35 Agrarian Reform Beneficiaries and 115 non-Agrarian Reform Beneficiary members.
Flores said the main source of the cooperative income are sugarcane and corn farming, however, because of high production cost, some farmers opt to engage in off-farm activities.
She said many of them have fallen prey to loan sharks, while some leased their farms as the easiest way to obtain funds.
Flores added that, through APCP, financial and technical services are provided for beneficiaries to enable their organization to be qualified to receive and effectively manage this support.