The Department of Agrarian Reform (DAR) in Negros Occidental - North has provided a total of P6 million in agricultural financial assistance to two of its assisted agrarian reform beneficiaries organizations (Arbos) in northern part of the province last week.
Nabinay Agrarian Reform Cooperative (ARC) of Barangay Daga in Cadiz City and Mirasol Development Corporation ARC of Barangay Andres Bonifacio in Sagay City received a back-to-back loan counseling.
They also signed the contracts with Land Bank of the Philippines (LBP) account officer Trixie John Julag-ay for the renewal of their credit line.
One hundred thirty-seven farmers and their respective families will benefit from the monetary assistance through the Agricultural Production Credit Program (APCP) funded by the DAR in partnership with the LBP.
A total of 118.32 hectares were granted agricultural financial assistance by the agency and LBP.
Both associations are collectively managing their respective sugarcane plantations.
Also during the activity, DAR-Negros Occidental I discussed to the farmer-members the terms and conditions of the approved renewal of their credit line as well as the pre and post-release requirements.
The APCP loan is a project implemented by the DAR and LBP to provide credit to the ARBs at affordable cost including development assistance and marketing support.