Key to productivity DAF, PROPOSES EASY ACCESS CREDIT, FINANCING PROGRAM By Manny PiƱol The Department of Agriculture and Fisheries (DAF) is proposing an easy access credit facility which would allow farmers and fisher folks to avail of government financing for food production without collateral, a 6% interest rate per year and a minimum loan maturity period of at least three to eight years. The scheme, called the Farmers and Fishermen Quick Credit Facility (FFQCF), proposes a P50-B loan portfolio which would offer only production loans of not more than P50,000 per farmer or fisherman to be handled by an agency which will be created by law or existing credit cooperatives and organizations. The repayment period of the loan will depend on the commodity that a farmer or fisherman will be producing, like three years for rice, corn, banana, sugarcane or fish drying facilities and eight years for coconut, mango, cacao, coffee or palm oil. This modified repayment per...
Comments