Tuesday Jul, 16 2024 11:13:40 PM

Lanao farmers and fisherfolk receive 0% interest cash loan from MAFAR

AGRICULTURE • 18:15 PM Tue Jun 1, 2021

MARAWI CITY – Eighty marginalized small farmers and fisherfolk (MSFF) from Lanao del Sur province each received Php25,000 non-interest bearing cash loan from the Ministry of Agriculture, Fisheries and Agrarian Reform (MAFAR).

A delegation from the MAFAR regional office led by Senior Agriculturist Ramil Timpolok and Agriculture Credit Policy Council Provincial (ACPC) Focal Person Nassem Sarangani officiated May 28 the third batch of loan distribution in Marawi City.

The loan assistance aims to finance the emergency and production capital requirements of the MSFF in order to ensure availability of food supply. The loan was granted through MAFAR’s expanded Sure Aid and Recovery Project in partnership with ACPC of the Department of Agriculture.

In his message delivered by Sarangani, MAFAR Provincial Director Atty. Khalid D. Ansano reminded the beneficiaries to properly use the loan and maintain credibility by paying back responsibly so they can continue receiving support from the Bangsamoro Government.

“Maihahalintulad po natin ito sa pagtatanim, itanim natin ng maayos ang binhi (loan) na ating natanggap at alagaan upang ito ay lumago at mapakinabangan natin ng mas matagal,” he said.

Beneficiaries were given ten years to pay at zero-percent (0%) interest with no collateral required. It was distributed through Landbank of the
Philippines Lanao Lending Center which served as the lending conduit for the province.

MAFAR targets to extend loan assistance to a total of 2500 poor farmers and fisherfolk across the Bangsamoro Region. (Bangsamoro Information Office)

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