Cebu agri-based coop gets P10 million loan from DA

Mitchelle L. Palaubsanon (The Freeman) - May 18, 2020 - 12:00am

CEBU, Philippines —  The Department of Agriculture through the Agricultural Credit and Policy Council (DA-ACPC) granted P10 million in loan to the Cebu Peoples Multi-Purpose Cooperative (CPMPC) to help it cope amid the coronavirus disease pandemic.

Macario Quevedo, CPMPC chief executive officer, said the farmers and fishers are in dire need of the assistance amid the community quarantine due to COVID-19.

“We see how our farmers need assistance. With this pandemic, our farmers are very vulnerable and that they end up losing what they are producing. They are greatly affected, so we need to respond to their needs,” Quevedo said in a press statement released by DA-7.

Gerry Avila, DA-Operations Division chief, said CPMPC,  an agri-based multipurpose cooperative with more than 70,000 members, mostly farmers, is a conduit partner of DA’s Production Loan Easy Access (PLEA).

The financing program is part of the expanded Survival and Recovery Aid program under the Ahon Lahat, Pagkaing Sapat Kontra COVID-19.

Under the expanded loan program, eligible enterprises whether single proprietorship, partnership, corporation or cooperative and association may borrow up to P10 million at zero interest, payable up to five years.

Quevedo said the CPMPC requested P6.6 million in loan for the purchase of three refrigerated van trucks to transport fresh fruits, vegetables and meat products directly to the affected communities in Cebu.

Instead, DA-ACPC granted the cooperative with P10 million in loan.

Quevedo promised to sustain the DA-funded projects even after the pandemic.

 “We again partner with DA in providing accessible food in this time of pandemic through KADIWA on Wheels and KADIWA online. The CPMPC serves as an assembler/ consolidator of the farm produce of our farmer members,” he said.

It can be recalled  that DA-7 and CPMPC signed the memorandum of understanding on KADIWA through Kadiwa Online and Kadiwa on Wheels.

KADIWA supports food resiliency program of DA ensuring food accessibility and affordability during the Enhanced Community Quarantine (ECQ).

It offers fresh vegetables such as string beans, eggplants, and cabbage, among others from the farmers of Cebu City mountain barangays.

KADIWA seeks to increase small farmers’ income and at the same time provide consumers the access to safe, fresh and quality agri-fishery products at a reasonable price.

Also, it seeks to ensure stability of price and steady supply of agri - products. KQD (FREEMAN)

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