IN A bid to increase its assistance to farmers and fisherfolk, state-run
Development Bank of the Philippines (DBP) has set up a new P200-million
loan facility together with the Agricultural Credit Policy Council.
The Cooperative Agricultural Lending Program (CALP), which will run for
two years, will extend loans to cooperatives and cooperative banks,
which in turn, will extend microfinance loans to qualified farmers and
fisherfolk.
"DBP is eyeing to release P147 million under the loan program before the
end of the year," a bank official, who requested anonymity, said in a
text message yesterday.
Cooperatives and cooperative banks that want to apply for loans under
CALP must have notched at least two years of profitable operations.
Farmers and fisherfolk -- or their household members -- who wish to
borrow from these institutions must have the following qualifications:
• farming a plot of land smaller than seven hectares;
• engaged in backyard poultry or livestock raising;
• operating fishing vessels with capacity of not more than three tons;
• operating fishponds of less than five hectares or fish cages of less
than 400 square meters;
• working in fishing boats, fishponds, or fish processing
establishments; and
• engaged in small-scale fish production, processing and distribution.
"[The loan facility] will provide production and agricultural
microfinance loans for the production of crops, livestock, poultry and
fisheries. It will also provide financing for the activities of
agricultural households," DBP President and Chief and Executive Officer
Francisco F. Del Rosario, Jr. was quoted as saying in a statement.
A loan can run from one to three years and the amount will depend on the
amount proposed by a cooperative or cooperative bank and approved by
DBP's Small and Medium Enterprises unit.
DBP has conducted briefings in DA-DAR-DENR (Department of Agriculture,
Department of Agrarian Reform, Department of Environment and Natural
Resources) convergence areas, including Quezon Province, Camarines Sur,
Iloilo City, San Jose in Antique, Cauayan in Isabela and Ormoc City.
Already, eight cooperatives and 21 cooperative banks have expressed
interest in tapping-- funds under CALP. -- A. R. R. Gregorio
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