DA-ACEF Regional Coordinating Unit 10, together with LBP account officers conduct monitoring of Lanao Norte ACEF loan grantees, who have availed credit for the purchase of farm inputs and improvement, as well as acquisition/establishment of production, postharvest, and processing machineries, equipment, and facilities.
CAGAYAN DE ORO CITY – In a bid to fast-track payment collections, the Department of Agriculture-Agricultural Competitiveness Enhancement Fund (DA-ACEF) Regional Coordinating Unit 10, together with the account officers of the Landbank of the Philippines (LBP), recently met with the ACEF loan program grantees of Lanao del Norte (LDN) province.
Under the said agricultural lending program, DA-10 Regional Executive Director Carlene C. Collado said, that it intends to provide credit to farmers and fisherfolk and their cooperatives and associations, and micro and small enterprises (MSEs), to boost their productivity; thereby enhancing the competitiveness among targeted project-beneficiaries.
With LBP managing the credit facility pooled from the fund, LDN associations and individuals, comprising of abaca production borrowers from Iligan City; milkfish, fingerlings, and palay production borrowers from Lala town; and a Lakatan production borrower from Matungao, were guided on how to go about their payment loans and tackled issues arising from the matter.
Said beneficiaries have availed loans under ACEF for the purchase of farm inputs and improvement, as well as acquisition/establishment of production, postharvest, and processing machineries, equipment, and facilities.
Under the ACEF loan program, eligible borrowers may loan up to P5 million (M) per project loan per farmers and fisherfolk cooperatives, associations, and MSEs, while P1-M per individual farmer/fisher.
Also supporting the event is DA-10 Regional Technical Director for Research and Regulations Carmelita T. Bajarla, together with Supervising Agriculturist Ferdinand F. Caballe of the Agribusiness and Marketing Assistance Division, and other DA-10 staff. # (JCAnito)