Dalaguete farmers get P18 million loan support from DA

CEBU, Philippines - The Department of Agriculture(DA) gave P18 million loan facility to the farmers of Dalaguete this month.

DA Secretary Manny Piñol confirmed that the Agricultural Credit Policy Council (ACPC) will extend the Production Loan Easy Access (PLEA) program to them from their 2017 budget.

“During the dialogue which I usually do with farmers, I was once again confronted by the very basic problem many farmers and fisher folks face - easy access to credit," stated Piñol in his post last week.

He explained that the farmers in Dalaguete own marginal lands and produce quality vegetables which are sold in Cebu City and the nearby islands including Manila.

During the dialogues with these farmers, he learned that they were paying a 10 percent monthly interest for the money that they borrow to buy seeds, farm inputs, and farm equipment.

"That is a whopping 120 percent interest on a yearly basis and that explains why farmers have remained poor," Piñol remarked.

He added that under the PLEA program, there will be a no-collateral loan with a 6 percent interest per year which will go to their cooperative or the rural bank which will manage the credit.

Mantalongon Barangay Captain Josephine Nepomuceno expressed joy after hearing the news from the Secretary himself.

"Dako kaayo ni’ng tabang alang sa mga farmers nato aron naa silay ikapuhunan, " she said.

According to her, each farmer can avail P15, 000 loan. Since the loan support was announced just recently, the implementing rules and regulations are yet to be drafted.

"Wala pa ma-finalize.  Makighinabi pa unya mi sa MANRO kung unsay pamaagi ana ug kinsa pud ang qualified. Naa man gud tay mga registered farmers nga naay ilahang yuta ug naa puy nangobra ra, " she added.

As per Piñol's announcement, the loan will be available before the year ends.

Aside from announcing the loan support, the DA Secretary also responded to the requests of the farmers for farm-to-market roads, water hose, carabaos, drums and other needs. (FREEMAN)