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Wednesday, February 22, 2006
Davao banana farmers avail of P4.4M loan
DAVAO - At least 40 farmers from Malungon town in Sarangani would soon receive loan assistance from Quedancor to develop banana farms.
In a meeting with Sara-ngani Governor Miguel Dominguez and officers of the Sarangani Federation of Fruit Industry Associations, Inc. (Saffia) and the Department of Trade and Industry-Sarangani on Feb. 13, Remedios Balingit bared that Quedancor is set to release to eight self-reliant teams the amount of P4.4 million to develop 72.5 hectares banana plantations of cardaba variety.
Balingit is the new district supervisor of the government’s Credit and Guarantee Company for Sarangani.
The approved loan would increase the loans portfolio for Malungon banana farmers to P4.75 million.
Quedancor released P365,000 to a self-reliant team of five farmers from the same town in October last year.
The money is part of the P80 million loan packages the government financing institution committed to Sarangani Province in December 2004 intended for developing 1,200 hectares cardaba banana plantations in six years.
Employment
Saffia estimates to generate a local gross domestic product of P167 million annually and employ 12,000 workers in the farms and upstream and downstream businesses.
Saffia is the private sector partner of the Provincial Government in implementing a small farm-based cardaba and mango industry development flagship program of Sarangani.
Saffia president Fred Dumasis, for his part, announced that his group compiled hundreds of applications from five component towns for the cardaba loans.
“We will submit these applications to Quedancor as soon as the releases for Malungon are completed,” Dumasis said.
Counterpart
In the same meeting, Balingit presented a draft memorandum of agreement that calls for the Provincial Government of Sarangani to provide P1 counterpart fund for every P2 loans Quedancor would make available to Sarangani cardaba farmers.
Quedancor sets aside P20 million in loans to be made available in 2006, Balingit said.
Cardaba banana is the One-Town, One Product of the municipalities of Alabel, Maasim and Malapatan. (Sun.Star Davao/Sunnex)
For Bisaya stories from Cebu. Click here. (February 22, 2006 issue)
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