A Memorandum of Agreement (MOA) sealed the partnership between the Department of Agriculture – Agricultural Credit Policy Council (DA-ACPC) and the Producers Savings Bank Corporation (PSBC).

Under the agreement, the PSBC will serve as a Partner Lending Conduit (PLC) of ACPC, to facilitate the disbursement of loans to farmers, fisherfolk, and agri-fishery based micro and small enterprises (MSEs). The partnership covers end-to-end program administration, including processing loan applications, conducting field visits and credit and background investigation, approving applications, and managing loan collection.

DA-ACPC Director for Program Development Mr. Noel Clarence Ducusin affirmed the importance of the partnership.”Through this partnership, we will be able to reach more farmers and fisherfolk, especially in the unbanked and underserved areas,” he said.

PSBC President and Chief Executive Officer, Mr. Andres M. Cornejo, underscored the bank’s commitment in supporting the agricultural sector. “I am happy to announce that the PSBC has a total of 288 branches nationwide. Through this collaboration, I am confident that DA-ACPC’s credit programs will reach more farmers and fisherfolk,” Cornejo stated.

Key officials and representatives from both organizations attended the event, including ACPC Program Development Division Chief Ding Pereyra, ACPC Senior Program Management Officer Cesyl Pillado, PSBC Senior Executive Vice President and Chief Operating Officer Andrei D. Cornejo, Jr., and PSBC Executive Vice President and Head of Credit Management Support Group Cenon M. Ladringan. Former DA Secretary Arthur Yap, Agrilever Chairman Yoav Schwalb, Agrilever CEO Ruel Amparo, and Bioprime Executive Chairman Ben Mead were also in attendance.

This partnership will improve financial inclusion enabling more farmers and fisherfolk in the rural areas access credit. The MOA signing ceremony was held on November 26, 2024 in Ortigas Center, Pasig City.