DA seeks add’l P3B for loans to farmers

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    The Department of Agriculture (DA) is seeking additional P3 billion to augment the loan packages for farmers and fishermen on top of the  proposed P17-billion allocation under the proposed Bayanihan 2.

    DA Secretary William Dar at the Laging Handa press conference that since the pandemic, at least 17 percent of the farmers and fishermen in the country were unable to plant and fish since the pandemic, while 35 percent of those who were able to farm and fish were unable to sell their products.

    Dar said to ease the impact of the pandemic on the farmers, fishermen and agri-businessmen, the DA had been providing zero-percent loans that are payable in five to 10 years like the marginalized small farmers loan that an provide farmers and fishermen up to P25,000 of loan, and a P300,000 to P1 million loan for micro and small agri-businessmen.

    Dar expressed hope  the agriculture sector would continue to improve in the third and fourth quarter of the year after posting a  0.5-percent growth in the second quarter.