A total of 720 marginalized small farmers and fishers (MSFF) from the municipalities of Daet, Mercedes, and San Vicente in Camarines Norte availed of loans under the Expanded Sure Aid and Recovery Project or SURE COVID-19 program of the Department of Agriculture – Agricultural Credit Policy Council (DA-ACPC).
The SURE COVID-19 program offers loans amounting to P25,000 per household, payable up to 10 years with zero interest and no collateral.
Qualified beneficiaries were identified by the local government units through their respective Municipal Agriculture Offices (MAOs), and validated by the Department of Agriculture-Regional Field Office (DA-RFO).
The Rural Bank of Paracale, one of DA-ACPC’s lending conduits in Region 5 released a total amount of P18M to 720 farmer-beneficiaries in Camarines Norte.
According to Kenneth Valencia, ACPC focal person for Camarines Norte, the release was done in batches following the General Community Quarantine (GCQ) protocols to ensure the safety of the bank employees and farmer beneficiaries.