The Department of Agriculture (DA) said a total of P400 million can be loaned out for fishermen nationwide so they can buy machinery and equipment needed to boost their output and income and eventually improve the fisheries sector’s performance. Agriculture Secretary Emmanuel Piñol said the fund would be offered by the Agricultural Credit Policy Council (ACPC), an attached agency of the DA, during the first-ever Philippine Fisheries Expo on Dec. 17-19 at the World Trade Center in Manila. He said the DA-ACPC would lend applicants the amount they need including their working capital. The loans will have 2 percent annual interest payable in 8 years.

Gomez, E. J. (2018, December 10). P400-M loan fund to boost fisheries. The Manila Times, p. B2.