President Ferdinand Marcos, Jr. delivering his speech to the beneficiaries of various government interventions of Region 1
The Department of Agriculture – Agricultural Credit Policy Council (DA-ACPC), through its AgriNegosyo Loan Program, released a total of P80 million loan fund at the Narciso Ramos Gymnasium, Lingayen, Pangasinan on July 19, 2024.
President Ferdinand Marcos, Jr. and DA Secretary Francisco Tiu Laurel, Jr. led the fund turnover to three DA-ACPC Partner Lending Conduits (PLCs) in the region, namely: the Nueva Segovia Consortium of Cooperatives (NSCC), the Ilocos Consolidated Cooperative Bank (ICCB), and the Cooperative Bank of La Union (CBLU).
PBBM and DA Secretary Francisco Tiu Laurel, Jr. in a group photo with the PLCs receiving their AgriNegosyo Loan Fund
AgriNegosyo provides eligible Micro and Small Enterprises (MSEs) and Small Farmers and Fisherfolk (SFF) borrowers with accessible and affordable loans for their capital requirements. Under the program, they can borrow up to P15 million pesos at only 2% interest per annum. This helps supplement various interventions of the DA by improving the efficiency and profitability of the borrowers’ agribusiness activities across the value chain.
NSCC Chief Executive Officer Divina Quemi noted AgriNegosyo’s positive impact on current borrowers, “Tinuturuan namin sila on how to manage their finances and marami nang nakapagpalaki ng kanilang negosyo. Natutuwa rin kami, may mga nagkabahay na at nakapagpaaral ng mga anak…”
PBBM with the representatives of the Nueva Segovia Consortium of Cooperatives
The DA-ACPC also has the Young Agripreneurs Loan Program where eligible 18 to 30 year-olds can borrow up to P500,000 at 0% interest to encourage the youth to engage in agriculture. Further, disaster-affected SFFs can borrow up to P25,000 through the SURE Assistance Loan Program, also at no interest to help them rebuild their livelihood.
With PBBM leading the turnovers during his visits this year, the DA-ACPC has released over P750 million in loan disbursement funds to PLCs in Cagayan Valley, MIMAROPA, Bicol, CARAGA, and Visayas Region, including the Ilocos Region and Cordillera Administrative Region.
In line with helping our farmers, PBBM also conducted the ceremonial signing and awarding of the first Certificates of Condonation with Release of Mortgage, or COCROM, under the New Agrarian Emancipation Act, or “Condonation Law,” which signifies the freedom of Agrarian Reform Beneficiaries from debts related to their agricultural lands.
