The Department of Agriculture (DA) has recently released a P1billion fund through a flexible credit facility to provide agricultural loans to marginalized farmers and fisherfolk in the poorest provinces across the country. Under the Agriculture and Fisheries Financing Program (AFFP), the DA’s Agricultural Credit Policy Council (ACPC) aims to provide direct loans to more than 40,000 marginalized farmers and fishermen who are presently unable to access credit due to stringent requirements and payment terms. “The program aims to enhance financial inclusion of the rural poor, particularly those who belong to the agriculture sector, as a means to bring about more inclusive growth,” ACPC Executive Director Jovita Corpuz said.

Galvez, J. K. (2014, February 24). DA releases funds for agricultural loans. The Manila Times, p. A6.