“This is the call of the times. The government must surmount huge challenges: More mouths to feed, decreasing food production and incomes, aging farmers, and agriculture sector lagging behind its counterparts.”
This was the scenario painted by Agriculture Secretary William D. Dar, during a signing ceremony that will provide cash assistance to rice farmers tilling one hectare or less.
The initiative — called Survival and Recovery Assistance Program for Rice Farmers or SURE Aid — will provide a zero-interest P15,000 soft loan, payable in eight years.
To implement the SURE Aid program, Secretary Dar, on behalf of the DA-Agricultural Credit and Policy Council (ACPC), forged an agreement with Cecilia Borromeo, president and CEO of LandBank of the Philippines (LBP), August 28, 2019, at LBP main office in Manila.
The DA-ACPC has provided LBP a seed fund of P1.5 billion that it will administer under the SURE Aid program. A member of the LBP board of directors, Dar said aside from LBP branches nationwide, qualified farmers can avail of the loan from DA-accredited financial conduits to cover more areas.
Initially, the program will benefit farmers listed in the recently updated and validated Registry System for Basic Sectors in Agriculture (RSBSA), the national database of farmers, fishers, and other farm laborers containing basic information including location and size of farm.
“On behalf of LandBank, we thank Secretary Dar for this very swift and solid move, a clear proof of his trademark as a man of action. It is a sign of many great things to come on the agri sector,” said LBP chief Borromeo.
“Be assured that LandBank is fully on board to work with the DA in making great things happen for our farmers and fishers… Sama-sama nating isulong ang interes ng magsasaka tungo sa masaganang ani at mataas na kita” said Borromeo.
“Credit is a vital factor to develop and grow Philippine agriculture,” Dar said.
“It must be affordable and accessible to all small farmers and fisherfolk nationwide. The ease of doing business will be our principle in terms of simplifying the process for the common farmer and fisher,” added Dar, who is barely one month in office.
“As part of the SURE Aid program, the National Food Authority will buy all their palay harvest,” Dar said. ###
