The Department of Agrarian Reform (DAR) on Sunday disclosed that President Ferdinand R. Marcos Jr. has already handed over P41-million agri-credit assistance check to 471 agrarian reform beneficiaries (ARBs) of Nueva Ecija.
DAR Secretary Conrado M. Estrella III said that it was part of various credit assistance program in partnership with the Land Bank of the Philippines (LBP) and the local government unit (LGU) in the area.
He also revealed that 12 ARB Organizations (ARBOs) under Accessible Loans for Empowered, Resilient, and Transformed (ALERT) Program were able to avail of the credit assistance program offered by the DAR through the LBP.
“Aside from providing lands to the ARBs, credit support services such as agricultural insurance, technical assistance, capacity building and marketing assistance are also offered to ARBOs to empower the ARB members and strengthen their capabilities and resiliency,” Estrella said.
The DAR chief said that under the “New Agrarian Emancipation Act” or Republic Act 11953, the DAR shall provide support services to all ARBs which include, among others, the provision of credit assistance.
Meantime, LBP executive vice president Alex Lorayes said the Landbank has also allotted a P10-billion fund for the implementation of Landbank Agrisenso Lending Program.
The program was launched last July 2024 and is designed to provide affordable financing to ARBs and the whole agriculture value-chain towards bolstering nationwide food security and sufficiency by providing the farmers with only seven percent interest per annum.
“Rest assured that Landbank will continue to support the government’s intensified efforts to extend meaningful interventions for the farmers paving the way for a more prosperous and sustainable agricultural sector,” Lorayes said.
The ARBO recipients are the Magandang Buhay ng Samon Multi-Purpose Cooperative located in Samon,Cabanatuan City; United Nampicuan Producers Cooperative in North Poblacion, Nampicuan; Pinag isang Adhikainng Mamamayan ng Talavera Agriculture Cooperative (PAMTAC) in Mamandil, Talavera; Kaagapay sa Kaunlaran sa Bayan ng Quezon Inc. in Doña Lucia, Quezon; Farmers Joint Venture Agriculture Cooperative in Linglingay, Science City of Muñoz and the Eastern Santo Domingo Agriculture Cooperative in San Francisco, Santo Domingo.