The province of Catanduanes expressed its support for a pending bill easing the requirements for securing a loan for farmers authored by former president and now Pampanga Rep. Gloria Macapagal-Arroyo.
The Sangguniang Panlalawigan of Catanduanes passed a Resolution supporting Arroyo’s House bill 2211
which would deem certificates of land ownership as valid collateral for acquiring a loan.
Specifically, the measure amends Sections 27 and 71 of the Comprehensive Agrarian Reform Law (CARPL) by lifting the restriction on farmers to mortgage and/or encumber the land awarded to them to acquire loans.
“House Bill 2211 will redound to the benefit of a greater number of constituents. Thus, this resolution is hereby introduced in full support if and as a strong endorsement of House Bill No. 2211,” the Resolution, a copy of which was given to reporters on Friday, said.
Arroyo’s bill also provides that any loan obtained shall be exclusively devoted for the improvement and/or development of the land awarded or the procurement of the necessary agricultural inputs and establishment of facilities which will either enhance the production, processing and marketing of agricultural products or increase farm productivity and income.
“Lifting these restrictions in the law would be a welcome reprieve to our farm workers. Not only will this enhance their chances of gaining credit but it will also equip them with the necessary tools to improve their living conditions,” Arroyo said in a statement.