The Department of Agriculture (DA) on Wednesday said it is accelerating recovery efforts to aid farmers affected by recent flooding and heavy rains.
This is under the Agricultural Rehabilitation, Emergency Credit, and Operational Viability for Economic Restoration (AGRI-RECOVER) program, which seeks to bridge the financing gap between sustained agricultural damage and upcoming land preparation expenses, helping farmers restart immediately instead of suffering planting delays while waiting to build capital.
The DA’s Agricultural Credit Policy Council (ACPC) made the move as the agriculture and fisheries sector incurred about PHP4.38 billion worth of damage following recent typhoons and the southwest monsoon, affecting 99,000 farmers and fishers nationwide.
In a statement, DA Secretary Francisco Tiu Laurel said the speed of delivering recovery financing is “critical” to rehabilitate damaged farms.
“When farmers can borrow quickly to rehabilitate their farms, they can plant again sooner, recover their income faster and help keep food moving to consumers,” he said.
As of Monday, the ACPC has started providing PHP1.75 million worth of calamity loans in Angeles City, Pampanga.
Under the AGRI-RECOVER program, at least 50 affected farmers have initially accessed the calamity relief loan worth PHP35,000 each.
The agriculture chief said the initiative demonstrates the administration’s food security efforts, as the country is now in the wet harvest season to be followed by preparation for the next cropping cycle.
“Helping farmers recover quickly is also an investment in food security,” Tiu Laurel said.
The ACPC is looking to cover 200 farmers in Pampanga, alongside the conduct of program orientation and financial literacy sessions. (PNA)