DAR Davao ARBOs secure Php14M Land Bank loans
DAR Davao Region earned another milestone just recently as two (2) of its Agrarian Reform Beneficiaries Organizations (ARBOs) signed loan documents to access loans from the Land Bank of the Philippines (LBP) Regular Credit Window. This is considered a momentous feat for these two ARBOs as they were able to transition from being a recipient of Credit Assistance Program for Program Beneficiaries Development (PBD) to being eligible to avail of regular bank credit loan window.
Dalawinon Farmers Multi-Purpose Cooperative of Poblacion, Magsaysay, Davao del Sur with 144 ARB members and Malita Rural Workers Agrarian Reform Beneficiaries MPC (MARWABEMPCO) of Lacaron, Malita, Davao Occidental with 74 ARB members will avail a total of Php14 Million loan package, with Dalawinon Farmers MPC getting Php9 Million as working capital fot its palay trading project while MARWABEMPCO will receive Php5 Million to support its expansion of Cavendish banana production.
Both ARBOs recently graduated from CAP-PBD, which is a partnership program with the LBP, and intends to provide credit assistance to projects of ARBs in both Agrarian Reform and non-Agrarian Reform Communities. This credit window serves as an incubation stage where borrowers and projects that cannot be accommodated under the LBP regular window are extended credit facilities with the purpose of moving these borrowers to the LBP regular facilities. Noteworthy to mention is the fact that these two ARBOs were found to have excellent track record, with no incidence of loan repayment deliquencies.
DAR XI Regional and Provincial officials headed by Regional Director Joseph Orilla, ARD Claudio Ybanez, PARPO II Terso Gregorio of DAR Davao del Sur and OIC PARPO II Rameses Lomongo of DAR Davao Occidental graced the activity as signatories and witnesses to the loan documents signing ceremony. Also on hand to represent LBP was Vice President Jose Enedicto Faune of LANDBANK while Regional Manager Bonifacio Pales of the Philippine Crop Insurance Corporation (PCIC) was represented by Mr. Rey Lagdameo.
Vice President Faune lauded the continued partnership of LANDBANK and DAR in finding ways and means to make things easier for the ARBOs especially in sustaining their financial needs during this current pandemic crisis. RD Orilla also noted that DAR will continue to be resolute in serving its stakeholders even in midst of crisis.
Meanwhile, the officers of the two ARBOs, namely, BOD Chair Adolfo Flores and Manager Melany Lucaylucay of Dalawinon Farmers MPC and BOD Chair Rolly Mamada and Manager Amil Shuck of MARWABEMPCO, respectively as loan principals conveyed their deep gratitude to the DAR and LBP as this credit assistance enables them to sustainably manage their coop economic activities, and will soon qualify them to become partner banking agents of LBP in their respective areas. (RIO RSMaala with report from Jean T. Dumandan – RPBDD XI)
