Barmm farmers, fisherfolks, MSMEs receive emergency loan

THE Ministry of Agriculture, Fisheries, and Agrarian Reform in the Bangsamoro Autonomous Region in Muslim Mindanao (Mafar-Barmm), through its Agriculture Credit Policy Council (ACPC), has released Friday, August 28, 2020, an emergency loan assistance to the first batch of farmers, fisherfolks and micro and small enterprises (MSMEs) in the region.

Dr. Mohammad Yacob, Mafar minister, said that loan assistance amounting to P25,000 payable in 10 years at zero-percent interest was provided to the marginalized farmers and fisherfolks to finance their emergency and production capital requirements.

Yacob said that a working capital loan amounting to P10 million payable in five years at zero-percent interest was granted to MSMEs that are engaged in agriculture and fisheries food production, delivery of products and commodities and other activities in the supply chain to ensure the availability of food supply.

Yacob said the emergency loan assistance was provided through the Expanded Sure Aid and Recovery Project, in support of the Department of Agriculture’s (DA) “Ahon Lahat, Pagkain Sapat” Kontra sa Covid-19 (Alpas Covid-19).

Yacob said the program has undergone challenges in the area of Maguindanao since it is the sole province in Barmm that has no qualified organizations to be a fund-conduit of the Department of Agriculture.

However, he said that through the help of ACPC, organizations that are not yet eligible to avail loans will be provided with credit and capacity-building assistance.

ACPC focal person Lindi Cati-ir ensured that the provided emergency loan will create a huge impact on the farming profession and will create a more sustainable livelihood for its beneficiaries. (SunStar Zamboanga)

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