Agrarian reform beneficiaries belonging to 34 farmers’ organizations in Negros Occidental have secured more than P131 million in production loan for the first five months of the year, the Department of Agrarian Reform (DAR) report.
In a report submitted to the Land Bank of the Philippines, DAR said it has approved a total of P131,021,700 in loan applications from Negros Occidental farmers under the Agrarian Production Credit Program (APCP), covering the production requirements of 3,473
Comprehensive Agrarian Reform Program beneficiaries and their household members.
Of the approved amount, a total of P34,075,802 has already been released as of June 7, 2013.
Jeffrey Maningo, head of the LandBank’s Negros Occidental Lending Center, said that the balance would be released to the Agrarian Reform Beneficiaries’ Organizations (ARBOs) upon submission of required documents.
The biggest amount released went to the Negros Island Savings Coop (Nisco), which received P21.9 million of the P30-million approved loan. Nisco has another P72-million loan application pending at the LandBank.
The ARBOs that received more than P1-million loans include Sta. Isabel ARB Farmers’ Organizations (P1.887 million), Hacienda Carmenchica ARB and FW Association (P1.80 million), Hacienda Bernardita ARB MPC (P1.504 million), Hacienda Malaga Cuenca AR Coop (P1.438 million), CASA Agrarian Reform Cooperative (P1.284 million), and Association of San German ARB (P1.062 million).
DAR Undersecretary for Support Services Jerry Pacturan said they have endorsed to the LandBank the loan application of ARBOs in various parts of the country. The production loan would benefit farmers and farm workers who were awarded farm lots under the Comprehensive Agrarian Reform Program.
The APCP, a joint program of the DAR, LandBank, and the Department of Agriculture, is a new credit program for agrarian reform beneficiaries (ARBs) approved by President Benigno Aquino 3rd with a P1-billion funding.
The APCP aims to provide credit support for crop production to newly organized as well as existing ARBOs and farmers’ organizations not qualified to avail themselves of loans under the regular credit windows of banks.
The program’s specific objectives include providing credit assistance to ARBs or ARB household members through their respective organizations or other conduits to support their individual or communal crop production projects; ensure sustainable production of crops and increase the income of ARBs or their household members through other support services such as marketing, crop insurance, and farming facilities; and strengthen the ARBOs and improve the capabilities of ARBs through institutional capability building activities.
The APCP has three components, including agricultural production credit; agricultural production and financial management support; and institutional capacity building.