The AFMP seeks to increase the amount of credit support to the priority commodities and special priority zones of the Department of Agriculture (DA) by leveraging the P200 million program allocation with an initial P1.5 billion counterpart fund by Land Bank, the program's implementing agency.
The program welcomes the participation of both Land Bank-accredited and non-accredited conduits which were grouped into three (3) types. Type 1 conduits are those accredited by Land Bank that passed its Risk Asset Acceptance Criteria (RAAC). Type 2 are Land Bank-accredited conduits that have not passed the RAAC. Type 3 are those that are currently not accredited by the Land Bank, but are deemed vital in providing finance services to the prioritized sectors of the DA.
The AFMP will give first priority to the following commodities: rice, corn, high value crops such as banana, rubber, pineapple, vegetables, etc., poultry, livestock and fishery products. The program's first set of priority areas comprises all the provinces of the Bicol Region.