THE Agricultural Credit Policy Council (ACPC) has turned over P31 million worth of credit funds to six Camarines Sur and Catanduanes cooperatives that will serve as lending conduits for the Survival and Recovery (SURE) Assistance Program for farmers and fishermen affected by Typhoon Nina.
The six were identified as the Camsur Multi-Purpose Cooperative in Pili, Camarines Sur; Magarao Multi-Purpose Cooperative of Barangay Casuray, Magarao, Camarines Sur; San Antonio Farmers Multi-Purpose Cooperative of Buhi, Camarines Sur;Sampaloc Multi-Purpose Cooperative of Gainza, Camarines Sur; Pinoy-Lingap Multi-Purpose Cooperative of Cavinta, Virac, Catanduanes and the Maymatan Farmers Multi-Purpose Cooperative.
The SURE Assistance Program is a post-disaster facility that provides loans to calamity-affected small farmers and through partner-financial institutions and/or lending conduits.
Interest-free loans of not more than P25,000 per borrower are provided for the rehabilitation of farming, fishing and livelihood activities, including the purchase of production inputs, repair of farm/fishery assets and the acquisition of livestock and work animals.
Areas covered are those declared under a state of calamity by concerned local government units and validated by the Agriculture department or local National Disaster Risk Reduction and Management Council (NDRRMC) office to have sustained considerable agriculture damage.
Typhoon Nina devastated wrought over P4 billion in agriculture damage when it hit Bicol last year.