The Department of Agriculture Agricultural Credit and Policy Council (DA-ACPC), has provided a total of P90 million to nine partner-cooperative banks for the implementation of the Climate Change Adaptation Financing Program (CCAFP) under the Agricultural Fisheries Financing Program (AFFP), the department reported.
ACPC Executive Director Jocelyn Alma R. Badiola led the ceremonial turnover ceremony on September 27 at the ACPC Office in Pasig City.
The CCAFP is a special financing program that aims to encourage small households to cope or adapt to the adverse effects of climate change thru the provision of loans for climate change-resilient practices and technologies. The program is under the P3-billion credit fund of the 2013 and 2015 General Appropriations Acts.
Under CCAFP, the cooperative banks will provide loan assistance to individual small farmers and fisherfolk (SFF) registered in Registry System for Basic Sectors in Agriculture (RSBSA).
To encourage the SFF to participate in the program, the DA regional field units (DA-RFU) shall be responsible of the determining the possible technology packages for the area. DA-RFU will also help in identifying and endorsing Technical Service Providers (TSP) and potential borrowers to the participating cooperative banks.
ACPC will provide incentives to SFF to encourage them to comply with climate change adaptation practices and technologies.
CCAFP will initially cover the provinces included in the 18 priority major river basins in the country and the provinces affected by Typhoon Yolanda. These include the provinces of Ilocos Sur, Isabela, Tarlac, Quezon, Camarines Sur, Iloilo, Negros Occidental, Bukidnon, Davao, and Cotabato.
The program is part of the financing response for the Adaptation and Mitigation Initiative in Agriculture (AMIA) program under DA Systems-Wide Climate Change Office (DA-SWCCO).
Under the program, ACPC provided P10 million each to nine financial institutions, including Cooperative Bank of Ilocos Norte; Ilocos Sur Cooperative Bank; Cooperative Bank of La Union; Cooperative Bank of Nueva Vizacaya; First Isabela Cooperative Bank; Cooperative Bank of Negros Oriental; Negros Cooperative Bank; Cooperative Bank of Misamis Oriental; Bukidnon Cooperative Bank; and Cooperative Bank of Cotabato.
DEPARTMENT OF AGRICULTURE