Agriculture Secretary William D. Dar is positive that rice production is set to improve, increasing income and profit of rice farmers in effect.
The agri chief’s pronouncement came soon after the approval of the P1.5 billion (B) Expanded Survival and Recovery Assistance Program for Rice Farmers (SURE Aid) during 66th Governing Council Meeting of the Agricultural Credit Policy Council on August 15, 2019 in Quezon City.
“This loan assistance is a manifestation of the strong desire of the government to help Filipino rice farmers,” Dar said.
SURE Aid aims to provide loan assistance for immediate relief to rice farmers affected by the reduction or loss of their farm income. The program also intends to help rice farmers regain their capacity to continue their production.
“We will continue to look at measures to improve the living conditions of our rural stakeholders. Rest assured that with RCEF, farmers will increase productivity and earn more,” Dar said.
“At the end of the day, aangat lahat,” the agri chief added.
Under the SURE Aid, which shall commence on September 1, 2019, rice farmers who are farming one hectare and below, may avail of a one-time, zero-interest loan amounting to P15,000 payable up to eight years.
In addition, the National Food Authority (NFA) will buy the produce of rice farmers who were able to avail of the loan assistance under the said program.
The ACPC Governing Council approved a total of P1.5 billion funding for said program to be implemented by the Land Bank of the Philippines (LBP). The implementing guidelines of the program will be jointly crafted by the ACPC and the LBP.
The ACPC Governing Council is composed of the Secretary of the Department of Agriculture (DA) as the Chair, the Governor of the Bangko Sentral ng Pilipinas (BSP) as Vice-Chair while the members are the Secretaries of the Department of Finance (DOF), Department of Budget and Management (DBM), and the Director-General of the National Economic & Development Authority (NEDA).
Alongside Dar, the meeting was attended by BSP Deputy Governor Chuchi G. Fonacier, DOF Treasurer Rosalia V. De Leon, DBM Director Cristina B. Clasara, NEDA Assistant Director Diane Gail L. Maharjan, and ACPC Executive Director Jocelyn Alma R. Badiola. Also in attendance were Monetary Board Member Dr. Bruce Tolentino, LBP First Vice President Emellie Tamayo and other key officials from DA and ACPC. ### (ACPC Communications and Public Affairs Division)
