The Department of Finance (DoF) has approved the use of at least P3 billion for the development of fish farming, tapping most of the loan fund worth P4 billion from the Agricultural Competitiveness Enhancement Fund (ACEF). Agriculture Secretary Emmanuel F. Piñol said in a social media post Monday that Finance Secretary Carlos G. Dominguez III confirmed his support during the Cabinet’s visit to Japan. Mr. Dominguez also chairs Land Bank of the Philippines (LANDBANK), which will disburse the loans. Fish farming is capital-intensive but profitable, with operators earning up to 100% on their investment. Under the proposal to be submitted by the Department of Agriculture (DA) Bureau of Fisheries and Aquatic Resources (BFAR), individual operators will be allowed to borrow up to P1 million, while cooperatives and associations can tap up to P5 million.

Galang, V. M. P. (2019, June 4). Agriculture fund to release P3 billion worth of loans to support fish farmers. BusinessWorld, p. S1/5.