Agriculture Secretary Proceso Alcala said the program is in support of government’s early recovery program extended to farmers and fishers in provinces devastated by the recent typhoon.
“Affected farmers and fishers with outstanding loans under ACPC credit programs like Cooperative Banks Agri-Lending Program (CBAP), Agricultural Microfinance Program (AMP), Sikat Saka Program (SSP), Agriculture and Fisheries Financing Program (AFFP), Agrarian Production Credit Program (APCP)) or covered by the Agricultural Guarantee Fund Pool (AGFP) may avail of a loan moratorium,” Mr Alcala said.
At the same time, they may secure calamity financing for their agricultural production and livelihood activities, the Secretary added.
Those who have not availed themselves of any of the mentioned credit programs but are existing clients under other lending facilities of partner financing institutions of ACPC may also avail themselves of the calamity rehabilitation financing including extension of additional interest-free loans.
Availability of assistance through the CAP shall be upon request for program funding support from ACPC’s partner financing institutions operating in the typhoon-affected areas, Mr Alcala said.
As of October 26, total damage to agriculture production and infrastructure was pegged at almost P8.5 billion with Region 3 suffering the biggest devastation.
Around 92 per cent of the total affected area still has chances of recovery, according to the DA-Regional Field Offices’ partial field validation.