The Department of Agrarian Reform (DAR) and the Enhanced Partnership Against Hunger and Poverty (EPAHP) are launching a lending program to support agrarian reform beneficiaries’ organizations (ARBOs) and enhance food security initiatives. A fund of P2 billion has been allocated for the program, which can be availed of until Dec. 21, 2022.
The program has a loanable amount of up to 80 percent of the contract price with a five percent interest rate per annum.
“As we seek to reach more farmers nationwide, we are heavily focusing on making loans accessible. The program is aggressively strengthening its goals to provide more individual borrowers with direct access to credit especially in this time of the pandemic,” says Agrarian Reform Undersecretary Emily O. Padilla, adding that extending financial assistance to communities will help address hunger, poverty and food security.
A memorandum has already been cascaded to all DAR offices nationwide to orient ARBOs of the program. Financing support will be distributed via partner conduits of farmers and fisherfolk, such as agriculture cooperatives, irrigator associations and rural financial institutions.
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