ACPC delivers P31M SURE assistance to Bicol
The Agricultural Credit Policy Council (ACPC) turned over P31 million worth of credit funds to six cooperatives which will serve as lending conduits for the Survival and Recovery (SURE) Assistance Program to benefit farmers and fishers affected by Typhoon Niña in the provinces of Camarines Sur and Catanduanes.
The six lending conduits tapped by the ACPC for the implementation of SURE in Camarines Sur and Catanduanes are Camsur Multi-Purpose Cooperative in Pili, Camarines Sur; Magarao Multi-Purpose Cooperative of Barangay Casuray, Magarao, Camarines Sur; San Antonio Farmers Multi-Purpose Cooperative of Buhi, Camarines Sur; Sampaloc Multi-Purpose Cooperative of Gainza, Camarines Sur; Pinoy-Lingap Multi-Purpose Cooperative of Cavinta, Virac, Catanduanes and Maymatan Farmers Multi-Purpose Cooperative.
The SURE Assistance Program is a post-disaster facility which provides loan assistance to calamity-affected small farmers and fisherfolk and their households through partner-financial institutions and/or lending conduits.
Conceptualized by Department of Agriculture (DA), the SURE Assistance Program caters to small farmers and fishers whose livelihoods had been affected by calamities.
Interest-free loans of not more than P25,000 per borrower are provided to eligible borrowers to finance the requirements of rehabilitating their farming and/or fishing or livelihood activities including production inputs, repair of farm/fishery assets and acquisition of livestock/work animals.
To recall, Typhoon Niña devastated three Bicol provinces and wrought heavy damage on the agriculture sector in December 2016.
The number of farmers affected from the provinces of Camarines Sur, Catanduanes and Albay totaled to 82,793. The value of production loss was estimated at P4.1 billion.