Cordillera farmers get P100-million credit line from DA
Agriculture Secretary Emmanuel Piñol said that for paying their loans, farmers in the Cordillera Region, most of them engaged in high value vegetable production, will now have access to a P100-million credit facility from the Department of Agriculture (DA) through the Agricultural Credit Policy Council (ACPC).
During the Biyaheng Bukid Farmers Forum recently held in La Trinidad town, Piñol congratulated the hundreds of Cordillera Farmers because of their trustworthiness by paying their loans 100 percent on time.
Last year, after the Duterte Administration moved to save the P800-million Benguet Agri-Pinoy Trading Center (BAPTC) from becoming another White Elephant because farmers did not like to bring their produce there, the ACPC offered a loan facility of P46-million under the Production Loan Easy Access (PLEA) program.
Farmers who brought their vegetables to the BAPTC where buyers from the lowlands came to buy these were given access to the loan fund.
The PLEA program offers loans to farmers ranging from P5,000 to P50,000 per farmer at 6 percent interest yearly.
Piñol said the record of 100 percent repayment encouraged officials of DA to provide additional support to the region, especially the province of Benguet where most of the vegetables come from.