DAR extends financial aid to Bicol farmers

The Department of Agrarian Reform (DAR) has partnered with the Land Bank of the Philippines (LBP) and the Philippine Crop Insurance Corporation (PCIC) to provide financial aid to agrarian reform beneficiaries in Bicol.

Twelve beneficiaries from Naga, Tinambac, Calabangue, and Ocampo availed the production loan amounting to P1.6 million from the from the Accessible Funds for Delivery to ARBs.

AFFORD-ARBs is a lending program of the DAR, LBP, and PCIC intended for ARBs to finance the production of their rice, corn, and high-value crops, as well as the acquisition of small farm implements.

Theodore Reuben Sindac, DAR Bicol Regional Director said the beneficiaries got an approved loan ranging between P60,000 to P400,000 each.

“We want our ARBs to have ‘credit consciousness’ so that they will know that they can build or recover whatever losses they encounter through credit programs of the government. We also challenge them to make use of the credit facility wisely,” Sindac said.

The Landbank, in coordination with the DAR, conducted a pre-release orientation with Account Officer Roberto B. Remoto, and Account Assistant Germie Lyn C. Barquilla to review and reiterate the contents of the signed loan documents and of the loan features availed.

The loan applicants were also given assistance in opening ATM card accounts so that they could receive the approved loan amount in May, just in time for the planting activities.