By Christine Cudis/PNA
MANILA — The Philippine Crop Insurance Corporation (PCIC) spent a total of PHP4.99 billion to insure crops of 85,999 Agrarian Reform Beneficiaries (ARBs) for the year 2018 alone.
The move is under the financing assistance of the Agrarian Production Credit Program (APCP), Credit Assistance Program for Program Beneficiaries Development (CAP-PBD), Department of Agrarian Reform (DAR), Landbank of the Philippines and the Department of Agriculture.
Based on DAR data released on Thursday, the amount includes PHP496.078 milllion of premium subsidy cover that was availed of by 15,091 farmers.
In a press conference Wednesday, DAR Undersecretary for Support Services Emily Padilla also said that farmers are now allowed to borrow PHP60,000 per annum from Landbank without collateral.
“Also, following President Rodrigo Duterte’s directive, Landbank employees will be the ones to connect with the farmers. Dapat ang Landbank ang bumaba sa magsasaka, ang pera ng Landbank ay pera ng magsasaka (Landbank shall now make the effort to go to farmers’ communities because it is the farmers who own the bank),” she added.
Aside from this, at least 1,357 Agrarian Reform Organizations covering 70,733 beneficiaries were provided with credit to support crop production.
Meanwhile, the DAR has also provided microfinance services to 116,956 beneficiaries, who were also trained under the Village Level Farm Focused Enterprise Development to further enhance their knowledge on food processing.
About 50 percent of these beneficiaries have also been extended Support Facilities and Equipment to manufacture market-ready products such as ginger powder, bio organic fertilizer, coffee, chili paste, banana chips.
“We really put the priority on our farmers so they will have the capacity to expand their land and improve their lives,” Padilla added.
