Agriculture Secretary Manny Piñol has instructed the Agricultural Training Institute (ATI) to develop a module that would prepare farmers and fishers in the efficient management of their finances.
The Financial Literacy program, which will be undertaken by ATI in close coordination with the Agricultural Credit Policy Council (ACPC), will educate farmers, fishers, livestock raisers, vegetable growers and other agricultural stakeholders in organizing their budgetary operations to allow them to wisely spend for their projects and earn higher income.
The Secretary’s order forms part of the master plan to maintain the high repayment success rate of the loan programs launched by the Department of Agriculture under the ACPC.
The agri chief mentioned that farmers who availed of financial assistance under the Production Loan Easy Access (PLEA) credit facility during its launch in Malimono, Surigao del Norte on June 23 last year have already paid their dues even before the maturity date of their loans.
“We want other farmers to follow suit,” Piñol said during the Biyaheng Bukid in Narra, Palawan on April 26, 2018.
With advance payments made, the P15 million (M) fund lent by DA earned P900,000 in interest which the government will make readily available to other farmers and fishers to enhance their production.
Piñol added that the vegetable farmers in the Cordillera Administrative Region were able to repay 100% of their loans last December.
The current repayment success of DA loans is posted at 96%.
“The government has money to lend to you but we need assurance that you will pay your dues so that others may benefit as well,” he added.
Piñol said that the ACPC, to date, has P400M fund credit ready under the Farm Equipment and Postharvest Facility Loan Program.
The said credit facility is available to farmers’ and fishers’ associations and cooperatives at 2% interest, payable in eight years, without collateral.
“We encourage you avail of this program and be service providers so you can earn additional income from other farm production activities,” the Secretary said.
While in Narra, Piñol distributed a total of P25,286,700 worth of assistance in the form of agricultural equipment, hybrid rice seeds, vegetable seeds, cacao seedings, fertilizer, and other farm inputs.
He also awarded fishery livelihood assistance to fisherfolk groups of Narra, San Vicente, Magsaysay and El Nido amounting to a total of P7M.
The Municipality of El Nido also received an additional P2M worth of Fisheries Livelihood Project from the Bureau of Fisheries and Aquatic Resources as part of its reward for being one of the 100 municipalities to immediately complete its Municipal Fishing Vessels and Gears Registration or BoatR. ### (oda rodriguez/DA-AFID)
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