The Department of Agriculture (DA) is allotting P2.5 billion for micro and small enterprises (MSEs) as well as marginal farmers and fishers under the Expanded SURE Aid and Recovery Project (SURE Covid-19 Financing Program). This initiative is in line with the DA’s Plant, Plant, Plant Program or the Ahon Lahat, Pagkaing Sapat (ALPAS) Kontra COVID-19 Program.
Through the Agricultural Credit Policy Council (ACPC), P246.3 million in loans had been initially approved in just two weeks; 7,349 farmers and fishers from 11 regions have so far received loans totaling P183.8 million, according to ACPC director Jocelyn Badiola. The remaining P62.5 million were granted to nine agriculture– and fisheries-dependent MSEs from Region III, IV-A, V, VII, XI and Cordillera.
Eligible farmers and fishers (only one borrower per household) who will apply for a loan under the SURE Covid-19 are allowed up to P25,000 with no collateral, zero interest and payable for up to 10 years. MSEs—businesses who fall in the category of single proprietorship, partnership, corporation, cooperative or association—can loan up to P10 million with zero interest and five years’ paying period. MSEs who will supply the DA’s KADIWA ni Ani at Kita, a marketing system where MSEs, farmers and fishers directly sell their produce to consumers, will be prioritized.
“This is our way of helping agri-fishery MSEs and small farmers and fishers recover from their losses, as they play a crucial role in ensuring the availability of food supply in Metro Manila and other urban centers,” says Agriculture Secretary William Dar.
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