Published : Monday, August 29, 2011 00:00 Article Views : 306 Written by
: LAILANY P. GOMEZ REPORTER
DEVELOPMENT Bank of the Philippines said it will boost support to the
agricultural sector with a lending program through conduit banks.
The Agricultural Credit Policy Council-DBP Cooperative Agricultural
Lending Program Facility will fund stable cooperative banks and
cooperatives that would extend agricultural loans to small farmers and
fisherfolk in the countryside, the state lender said in a statement.
The credit facility will provide production and agricultural
microfinance loans for production of crops, livestock, poultry, and
fisheries. It will also provide financing for on- or off-farm/non-farm
activities of agricultural households using the household cash flow
lending approach,Francisco Del Rosario Jr., DBP president, said.
Eligible borrower-retailers for this facility are cooperatives and
cooperative banks with at least two years profitable operations.
Small farmers and fishermen or their household members engaged in
farming no more than seven hectares of land, or engaged in backyard
poultry/ livestock raising, may avail themselves of loans under this
program.
Similarly, eligible end-borrowers include those working in agricultural
lands and projects, operating fishing vessels of no more than three tons
capacity, 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 those who are engaged in small-scale
fish and other aqua production, processing, and distribution.
Loan term will run for three years while the loan amount will be based
on the amount established and proposed by the retailer and approved by DBP.
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