Business Skinning Left, pagematch: , sectionmatch: 1

Business ( Leaderboard Top ), pagematch: , sectionmatch: 1

DA allots P182 M for Mindanao crop insurance

MANILA, Philippines — The Department of Agriculture (DA) has launched a P182 million insurance program for farmers affected by Typhoon Vinta to ensure quick recovery from losses in the farm sector.

Agriculture Secretary Emmanuel Piñol said the Philippine Crop Insurance Corp. is preparing to hand out  P182 million in insurance payments to about 20,800 farmers in the affected areas.

Of the amount, P53.4 million will be allotted for Soccsksargen, P50.1 million for Davao region, P42.2 million for Northern Mindanao, P18.5 million for Zamboanga peninsula, P16.3 million for Caraga and P1.2 million for ARMM.

The amount is on top of the P100.2 million allocated last December which will also cover insurance payments and loans for Typhoon Urduja.

“Payments for farmers in the Zamboanga peninsula and Northern Mindanao will be released on Jan. 4 and 5,” Piñol said.

“We will also conduct an assessment and evaluation of damage and other interventions which could be delivered,” he added.

Business ( Article MRec ), pagematch: 1, sectionmatch: 1

The DA is now bringing buffer seeds from other regional offices to the typhoon affected areas.

Meanwhile, the Agricultural Credit Policy Council (ACPC) has been directed to validate the number of families of accredited farmers and fisherfolks affected by the typhoons who could be granted the survival and recovery loan package.

The program grants a P25,000 loan package to farmers and fisherfolks facing calamities.

Of the amount, P5,000 is given as a grant, while the remaining P20,000 is a no-collateral, no-interest loan payable in three years to allow recovery in the agriculture and fisheries sector.

Local government units of typhoon-affected areas are required to submit a municipal resolution declaring a state of calamity in their areas which, along with the National Disaster Risk Reduction and Management Council data, will be used as basis for the grant of the loans.

Business ( Article MRec ), pagematch: 1, sectionmatch: 1
  • Follow Us:
Business Skinning Right, pagematch: , sectionmatch: 1