NextGen Day

Following cooperation between the Department of Agrarian Reform (DAR) and the Land Bank of the Philippines (LBP), loan assistance was given to ARBs in the province of Leyte.

Mark Obregon, the monitoring and evaluation (M&E) Coordinator for DAR-Leyte, stated in a press release on Wednesday that 64 ARBs from Maasin City had requested loans through the DAR’s Accessible Fund for Delivery to ARBs (AFFORD-ARBs) credit support program to finance their production of abaca and cocoa.

According to Obregon, the AFFORD-ARBs credit assistance program has been providing financial aid since 2021.

In actuality, he added, “the LBP had already released to the ARBs more than PHP3.6 million.”

DAR has a number of loan assistance programs with low-interest rates that the ARBs may take advantage of, according to Provincial Agrarian Reform Program Officer Roderick Rances, who made the statement during the Local Project Management Committee (LPMC) meeting last week in Maasin City.

“This credit assistance is a good opportunity for ARBs who are still struggling to recover their losses incurred when Typhoon Odette hit Southern Leyte in December 2021,” stated Rances.

According to Victoria Ligtas, the coordinator of the Agri-Credit and Microfinance (ACMF) program, DAR offers three agri-credit support programs accessible for ARBs who are looking for funding sources to finance their farm operations or livelihood activities.

These include the Accessible Loans for Empowered, Resilient, and Transform-Agrarian Reform Beneficiaries Organizations (ALERT-ARBOs), which may be obtained through their affiliated agrarian reform beneficiaries organizations (ARBOs), and the Expanded Assistance to Restore and Install Sustainable Enterprise (E-ARISE), both of which may be accessed on an individual basis.

Furthermore, Ligtas claimed that in order to qualify for the AFFORD-ARBs loan, the bank no longer requires collateral.

She added, however, that since the PCIC proceeds, they will get will act as their collateral, borrowers must not have any other insurance applications with PCIC.

Donnie Saavedra, an underwriter for PCIC insurance, claimed that they carry out genuine inspections to ascertain whether the application merits the proper indemnification.

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