3 areas in Panay receive P67M farm equipment loans
Agriculture Secretary Emmanuel Piñol said the agricultural mechanization and modernization program of the Department of Agriculture (DA) is being intensified this year, with the distribution to farmers associations and cooperatives of farm implements and equipment.
As part of this, DA recently turned over P67-million worth of tractors, reapers, hand tractors, turtle tillers, corn shellers, cassava grating machines and other implements to farmers living in three Panay provinces.
The farm implements and equipment were particularly intended for the farmers groups in the provinces of Iloilo, Aklan and Capiz.
“Unlike in the past when farmers were asked to raise a counterpart fund of 10 percent of the cost of the tractors and other equipment, the DA on orders of President Rody Duterte gives the implements and equipment for free to qualified farmers’ groups,” Piñol said.
The Agricultural Credit Policy Council (ACPC), an agency under the Agriculture Department, has also offered an easy access loaning program for farm implements and equipment which could be availed of by farmers organizations and cooperatives.
“Farmers groups could buy the equipment they need by availing of the loan which has an interest rate of only 6 percent per year payable in eight years,” Piñol further said.