A special credit program designed to make credit access easy and convenient for the marginalized farmer was introduced by the Department of Agriculture (DA) on Wednesday, July 20.
Dr. Gerry Avila, DA Agribusiness and Marketing Assistance Division (AMAD) Cheif said that farmers who live on far-flung areas are the main beneficiaries of the program of the Productivity Loan Easy Access (PLEA) program.
PLEA is a program aimed to help farmers become agri-entrepreneurs by paying only 6 percent in their credit loan per annum at partnered cooperatives, associations, foundations, and Non-government Organizations.
An initial credit loan of 20 million pesos was formally distributed to 105 farmers in Dalaguete town. Farmers received P50,000 said Macario Quevedo, the Chief Executive officer of Cebu People’s Multipurpose Cooperative.
Their harvest will serve as their payment for their loan, said Quevedo.
PLEA program was planned last year and was launched last February./STC Intern Candy Baraga
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