Two Agrarian Reform Beneficiaries’ cooperatives received P3.4 million in agricultural credit support from the Agrarian Production Credit Program, a government press release said.
These are the PFPC Agrarian Reform Cooperative and the CASA Agrarian Reform Cooperative.
APCP is jointly implemented by the Department of Agrarian Reform, the Department of Agriculture and the Land Bank of the Philippines where the LBP gave notices of approval to the two ARB cooperatives in a ceremony held at Sugarland Hotel in Bacolod City witnessed by Agrarian Reform Secretary Virgilio de los Reyes.
De los Reyes, said the loan facility is part of the fulfillment of the government’s commitment to provide access to credit to Comprehensive Agrarian Reform Beneficiaries through their organizations, the press release said.
The two cooperatives are also part of the eight block farms in the province being organized by the DAR-SRA to enable ARBs to convert individual lands into block farms to come up with a productive yield with the technical assistance from SRA.
CASA Agrarian Reform Cooperative Chair Azucena Medel said the sugar block farm and the production loan extended to them are expected to improve their yield where they consider professional management of their farms and access to credit as good starting points for them as ARBs.
DAR-Negros Occidental has processed 30 ARBOs under the APCP which amounts to P103.7-million and P30-million for the Negros Island Savings and Credit Cooperative.
Based on the DAR’s report, NISCO became the first beneficiary of the APCP.
The program provides for a P1 billion-fund to support credit requirements of agrarian reform beneficiaries nationwide where P300 million shall be allocated Negros Occidental, the press release said.*