Philippines doubles efforts to recover from PSA and increases loans to producers

Published 2021년 9월 20일

Tridge summary

The Philippine Department of Agriculture has allocated an additional P300 million for loans to rural and semi-commercial producers in 'green zones' or African Swine Fever free areas. The loan, with zero interest and a five-year repayment term, can be used to finance pig projects in four regions. Individual producers can loan up to P300,000, new producers up to P1 million, and existing producers up to P3 million. Small businesses and cooperatives can loan up to P15 million. This is part of the P3 billion allocation by the 'OneDA Family' to revive the country's pork industry, which includes a P800-M loan program, a P1.2-B fund for the ‘Bantay ASF sa Barangay’ program, and P872 M for the INSPIRE program.

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Original content

The Philippine Department of Agriculture, through its Agricultural Credit Policy Council, has allocated 300 million additional Philippine pesos (P) for loans to rural and semi-commercial producers in "green zones" or African Swine Fever (PSA) free areas. This sum will help finance pig projects in four PES free areas in regions 4-B (MIMAROPA), 6 (Western Visaias), 7 (Central Visaias) and 9 (Zamboanga Peninsula). Beneficiaries of this aid are semi-commercial pig producers, individual, new or existing, small businesses and cooperatives and farmers associations. Individual producers can order up to P300,000, new up to P1 million and existing ones up to P3 million. Small businesses and cooperatives and associations up to P15 million. The loan has zero interest and the term to pay it off is five years. Last year, the Department of Agriculture initially allocated P500 million for loans to homegrowers and micro and small businesses (SMEs) under the ANYO program. As of August 31, 2021, ...

Source: 3tres3