Agricultural Credit Policy Council (ACPC) was created in 1986 by virtue of Executive Order 113 to assist the Department of Agriculture (DA) in synchronizing all credit policies and programs in support of the latter’s priority programs. It was also tasked to review and evaluate the economic soundness of all on-going and proposed agricultural credit programs, whether for domestic or foreign funding, prior to approval. Also, ACPC was tasked to undertake measures to increase its funds base and adopt other liquidity interest stabilization and risk cover mechanisms for its various financing programs.
In 1987, ACPC became an attached agency of the DA through Executive Order 116. During the same year, it was mandated to administer the Comprehensive Agriculture Loan Fund (CALF) through DA Administrative Order No. 5.
In 1992, the role of ACPC was expanded by RA 7607, the Magna Carta of Small Farmers, assigning the following functions to ACPC: (i) conduct institutional capacity building programs and (ii) to develop special projects to promote innovative financing schemes for small farmers. Advocacy of rural and agricultural finance policies and programs was also done by ACPC.
In 1996, the Agriculture and Fisheries Modernization Act or the AFMA (RA 8435) paved the way for ACPC to carve its niche in a liberalized and globalized environment. In support of AFMA, the ACPC was tasked to facilitate the phase-out of all agricultural directed credit programs (DCP) and to develop the design of globalized agricultural credit scheme called the Agro-Industry Modernization Credit and Financing Program or the AMCFP, and act as administrator of the said program. The ACPC will oversee the administration of the AMCFP Fund, including the DCP funds and ensure the adequate flow of funds to the DA’s priority sectors and intended clients.
Today, with its ongoing involvement in policy/action research and institution-building, ACPC continues to help government develop and implement strategies and policies that increase and sustain the flow of credit to agriculture and fisheries, improve the viability of farmers and fisherfolk, and support agriculture modernization, food security and poverty alleviation.
The Council is composed of the following:
- Department of Agriculture (DA) Secretary as Chair
- Bangko Sentral ng Pilipinas (BSP) Governor as Vice Chair
- Department of Finance (DoF) Secretary
- Department of Budget and Management (DBM) Secretary
- National Economic and Development Authority (NEDA) Director-General