DA sets agri loan program for laid-off OFWs

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THE Department of Agriculture (DA) said three loan programs with a total initial budget of P2.5 billion are now  being offered to laid-off returning overseas Filipino workers (OFWs)  who intend to venture into farming.

DA Secretary William Dar said the programs offer zero-interest loans, free trainings as well as technical and marketing assistance to open new opportunities for former OFWs and help in reviving and in rebooting the countryside as part of the Balik Probinsya, Bagong Pag-asa (BP2) program.

“As we adopt the whole-of-nation approach in creating more livelihood and employment opportunities in the countryside, we will also ensure  more small farmers and fishers and BP2 program beneficiaries will benefit from agri ventures spawned by our returning OFWs,” Dar said.

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Dar said the loan programs are the Expanded SURE-Aid (SURE COVID-19) and Recovery Project, Kapital Access for Young Agri-preneurs (KAYA) and the Agri-Negosyo (ANYO).

Under the SURE COVID-19 program, micro to small entrepreneurs may avail of up to P10 million as working capital at zero interest and payable in five years if they are engaged in agri-fishery food production, delivery of produce or commodities and other activities in the supply chain whose operations were affected by the expanded community quarantine (ECQ).

Individual farmers and fishers, affected by the ECQ, may borrow a non-collateralized loan of P25,000, zero interest, payable 10 years, to finance their emergency and production capital requirements.

KAYA will cater to young entrepreneurs or agri-fishery graduates, aged 18 to 30 years old and let them borrow up to P500,000, zero interest, payable in five years to engage in start-up or existing agri-based projects.

ANYO Program will finance agri ventures, working capital or fixed asset acquisition by individuals, sole proprietors, partnerships, corporations, and cooperatives, whose members are marginal small farmers and fisherfolk to avail of P300,000 up to P15 million loan with zero interest and payable up to five years.

Meanwhile, the DA said  Typhoon Ambo’s damage to agriculture  climbed to P1.04 billion, caused a production loss of 62,228 metric tons and affected 20,652 hectares of agricultural areas and 21,655 farmers and fisherfolk in Central Luzon, CALABARZON, Bicol and Eastern Visayas.

Affected commodities include rice, corn, high value crops including assorted vegetables, banana and papaya as well as livestock and fisheries.

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