DA offers P2.5-B loan facility for OFWs

THE Department of Agriculture ( DA) is encouraging overseas Filipino workers (OFWs) to venture into agripreneurship, allotting at least P2.5 billion for three of its loaning programs in an effort to revive and reboot Philippine agriculture.

“We are opening our doors to OFWs to join the ranks of our new breed of agr-preneurs who will help us revive and reboot the countryside, and at the same time support the Balik Probinsya, Bagong Pag- asa (BP2) program,” Agriculture Secretary William Dar said.

“As we adopt the ‘ whole- of- nation approach’ in creating more livelihood and employment opportunities in the countryside, we will also ensure that more small farmers and fishers, and BP2 program beneficiaries will benefit from agriventures spawned by our returning OFWs,” he added.

During a recent teleconference with the United Filipino Global International, Dar said the DA, through the Agricultural Credit Policy Council (ACPC), has loan programs that are accessible to OFWs, including free technical trainings from the Agricultural Training Institute (ATI).

These are the Expanded SURE-Aid and Recovery Project or SURE Covid-19, Kapital Access for Young Agriprenuers (KAYA) and Agri-Negosyo (ANYO), which all aim to help micro and small enterprises (MSEs), marginal small farmers and fishers, and young agripreneurs to venture into agri- fishery enterprises.

“Now is the time to tap the OFW sector as they start to reintegrate themselves back to their respective homes, communities and provinces,” Dar said.

Under the SURE Covid-19 program, MSEs may avail themselves of up to P10 million as working capital at zero interest and payable in five years. They may engage in agri-fishery food production, delivery of produce or commodities, and other activities in the agricultural supply chain whose operations were affected by the expanded community quarantine (ECQ).

Individual farmers and fishers, affected by the ECQ, may borrow a non- collateralized loan of P25,000, zero-interest, payable 10 years, to finance their emergency and production capital requirements.

Meanwhile, the ANYO program finances agriventures, working capital or fixed asset acquisition by individuals, sole proprietors, partnerships, corporations and cooperatives, whose members are marginal, small farmers and fisherfolk. They can avail of P300,000 up to P15 million, zero-interest and payable up to five years.

According to Dar, all these loans are channelled through government and nongovernment financial institutions, adding the ATI will provide OFWs capacity-building and skills trainings on social preparation and values formation, production technologies, farm business school, and establishment of agri learning sites, among others.

ATI also promotes household food security and livelihood programs through the distribution of planting materials and farm animals, and sharing of technologies to enable agriventures by OFWs to be productive and sustainable.

President Rodrigo Duterte on May 6 issued Executive Order 114, institutionalizing the BP2 Program as a pillar of balanced regional development, under which the DA is tasked to focus on attaining food security and increasing agricultural productivity.