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Aug 16, 2016 @ 3:09

LBP asked to fund farming technologies in Laguna de Bay

State-owned Land Bank of the Philippines (LBP) has been asked to fund fish farming technologies in Laguna de Bay, which could cost between P3 billion to P4 billion.

A report by BusinessMirror said that Agriculture Secretary Emmanuel F. Pinol submitted a memorandum urging LBP to provide loans to finance the DA’s projects to support small-scale fishermen in the country.

Pinol would like LBP to “relax” some stringent requirements in availing loans, to make it easier for fishermen to access financing. At present, fishpond operators cannot mortgage their fishponds because these are government property.

There are 357 registered and unregistered fishpen owners operating at the 90,000-hectare lake as of June 30 at the Laguna de Bay. The Laguna Lake Development Authority has already dismantled 1,700 hectares of fish pens, of which 1,300 hectares were dismantled during the previous administration.


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