Rural agricultural finance reaches P5.39 billion in 2021

The amount of loans granted to finance rural agriculture reached 5.39 billion pesos in 2021, benefiting 95,943 small farmers and fishermen and 396 micro and small enterprises (MSEs) and farmer/fisher organizations (FFOs) ) based on agro-fishing. –Said the Agricultural Credit Policy Council (DA-ACPC).

Agriculture Secretary William Dar last year welcomed this development in promoting effective and sustainable rural financial service delivery amid the continuing challenges of the Covid-19 pandemic.

“DA-ACPC’s credit programs, such as Kapital Access for Young Agripreneurs (KAYA), Agrinegosyo (ANYO) and SURE Covid-19, have helped beneficiaries across the country recover from the adverse effects of the pandemic and ‘other calamities,’ said Dar, who is chairman of the CAAA’s board of directors.

The said credit programs provide interest-free and collateral-free loans to small-scale farmers and fishers, MSEs and FFOs.

“We salute our farmers and fisherfolk who play a vital role in boosting food production to achieve higher levels of food sufficiency for the country. Providing them with accessible, timely and affordable assistance to fund their businesses is crucial. farming and fishing,” Dar mentioned.

DA-ACPC reported that it was able to provide access to financial services to 73 additional unbanked municipalities, increasing its reach to 436 out of the total 496 unbanked municipalities in the country and contributing to financial inclusion.

As part of the agency’s credit program support, many loan seekers, especially young agripreneurs and start-ups, have undergone capacity-building programs, including the preparation of business plans. , financial literacy, simple accounting, entrepreneurship, effective sales and marketing and other relevant training to help make their projects feasible and successful.

“Under the wise and skillful leadership of its Board of Directors and Management Committee, we at DA-ACPC are committed to working harder this year to do our part in achieving the common goal of a food security and resilience in the Philippines with a self-reliant Philippines and thriving farmers and fishers,” said DA-ACPC Executive Director Jocelyn Alma Badiola.

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