Puerto Princesa assists farmers and fisherfolk to avail loan

• Source:https://palawandailynews.com/city-news/puerto-princesa-assists-farmers-and-fisherfolk-to-avail-loan/
• Tuesday, August 13, 2019

By Gerardo Reyes Jr

The city government through the City Agriculture Office assisted farmers and fishermen in Puerto Princesa to improve their agricultural and fishery endeavors by availing of the government’s lending program for the agri-fishery sector.

The Agricultural Competitiveness Enhancement Fund (ACEF), is a lending program through Land Bank of the Philippines (LBP), which is a government-owned and controlled financial institution, aimed to contribute to the upliftment of the socio-economic conditions of the people belonging to the agriculture and fishery sector.

Joven Delgado, aquaculturist of the City Agriculture Office said that there are already 25 applications from farmers and fishermen submitted to LBP.

“Meron ng 25 na naipasa pero marami pang iba na applications na ina-assist pa namin. Tinulungan sila sa mga requirements. Tinuruan sila sa pag-gawa ng Farm Plan at Business Plan,” he said.

ACEF covers agrifishery projects such as purchase of farm inputs, equiptment or farm improvement, acquisition or establishment of agri-based production and processing machineries, equiptment and facilities, relending to farmers and fisherfolk.

For individual farmers, they can avail of a maximum of P1 million loan while P5 million is the maximum for associations.

Delgado explained that loan applications worth P300,000 and below can be processed and approved at LBP local branch only. It has also a very minimal interest and farmers and fishers should avail it.

“Ini-encourage namin ang mga farmers at fishermen kasi malaking tulong ito. Wala itong collateral at 2percent per annum lang. Ibig sabihin sa P100,000 mo ay 2,000 lang ang tubo sa isang taon,” he said.

Delgado further said that funds will strictly go to the projects it will help improve the socio-economic conditions of farmers and fisherfolk.