The Department of Agriculture (DA), through the Agricultural Credit Policy Council (ACPC) will give out the first ever “Gawad sa Paglingap sa Magsasaka at Mangingisda (Gawad Lingap)” awards to ACPC partner lending conduits and small farmer and fisherfolk borrowers of the Production Loan Easy Access (PLEA) at 9:30 am today April 26at the Crowne Plaza Manila Galleria, Ortigas Center, Quezon City.
Themed as “Sharing the Vision, Fulfilling the Mission”, the activity will recognize outstanding partner lending conduits under the PLEA in addressing the financial needs of small farmers and fisherfolk, especially in the unbanked areas, for a fast, convenient and affordable credit.
Likewise, inspiring farmer and fisherfolk borrowers, who showed exemplary accomplishment in the utilization and repayment of their loans under the PLEA, will be honored during the event.
“This is a great opportunity for DA-ACPC to express our gratitude to our program partners for their unwavering commitment and support in the implementation of the PLEA,” said ACPC Executive Director Jocelyn Alma R. Badiola.
“The success of PLEA would not have been possible without the strategic leadership and guidance of Secretary Piñol and the support and assistance of the whole DA family,” she added.
Coinciding with the recognition is the launching of the Pilipinas Agila Tires, the first farmer-owned motorcycle tires brand in the country.
The Pilipinas Agila Tires is a product of the Philippine Rubber Farmers’ Cooperative (PRFC), which was organised by the DA two years ago as part of its program to elevate rubber farmers to the level of processors.
The cooperative received a P10-million loan from ACPC to start the tire manufacturing business which the PRFC will repay at 6% interest per year for a period of 8 years.
The event will also feature an exhibit of various agri-fishery products by DA-ACPC partner lending conduits nationwide.
Aside from the Pilipinas Agila Tires, other products to be displayed are vegetables, processed food, nuts, organic food, rice, dairies, mushrooms, sardines, abaca, cacao, cassava, among others
.
A brainchild of Secretary Piñol, the PLEA credit facility offers non-collateralized loans to small farmers and fisherfolk at 6% per annum or 0.5% per month with free crop insurance and with flexible repayment schedule and convenient loan maturity.
The DA-ACPC implements the PLEA through lending conduits, which include grassroots-based organizations such as rural banks, cooperative banks, cooperatives, and non-government organizations.
Since its launch in Malimono, Surigao del Norte on June 23, 2017, PLEA has disbursed P1.66 billion through 166 lending conduits, benefitting an estimated 37,084 small
farmers and fisherfolk and recording a 91% repayment rate as of January 2019. (DA-ACPC News Release)
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