Some 3,200 farmers in Palawan, including Puerto Princesa City, were identified as beneficiaries of the Department of Agriculture (DA) SUrvival and REcovery Assistance Program (SURE Aid) affected by Rice Tariffication Law.
The SURE Aid Program aims to assist the rice farmers whose incomes were affected by the drop in the farm gate price of palay. It will provide a one-time loan assistance of P15,000 to rice farmers who are farming one hectare and below at 0% interest rate payable for eight years.
On Monday, the DA released the P15,000 to 200 farmers in Puerto Princesa in a payout held at the 2nd floor of the New City Hall.
Antonio Gerundio, regional executive director of the DA, said that the launching and payout will be a whole-day activity. The City Agriculture Office assisted and facilitated the activity.
“Ito yung assistance para sa mga farmers na affected ng Rice Tarrification Law. May 200 farmers dito sa Puerto Princesa at sa buong Palawan ay merong 3,000,” he said.
Two months ago, the DA-Agricultural Credit Policy Council (ACPC) and the LANDBANK of the Philippines signed a MOA for the program implementation. LANDBANK will administer the P1.5 billion fund from the DA-ACPC for the lending program. DA-accredited service conduits will also be tapped by LANDBANK so that they, in turn, will disburse loans to eligible beneficiaries especially in unbanked and unserved areas.
The DA said that the SURE Aid Program is a financial assistance that is very affordable for the small rice farmers as they just need to set aside P1,875 per year to pay off their loan.
“Credit is such as very important strategy to make it possible to develop and grow Philippine agriculture,” Secretary William Dar said in a statement.
“Credit must be affordable, accessible and the ease of doing business will be our principle in terms of simplifying the process for the common farmer,” further said.