COTABATO CITY (PIA) — Around 23 farmer cooperatives in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) have recently benefited from the government’s P100,000 loan program to support their agricultural activities.
The cash loan is under the Ministry of Agriculture, Fisheries, and Agrarian Reform’s (MAFAR) Loan Enhancement for Necessary Development Strategy (MAFAR-LENDS) program.
MAFAR Minister Mohammad Yacob emphasized that the release of cash loans is part of the ministry’s commitment to providing and sustaining economic growth and development for every farmer, fisherfolk, and agrarian reform beneficiary in the region.
“As part of our mandate to support farmers and fisherfolk in achieving their goals and improving their livelihoods, we are proud to serve as a key instrument in helping to enhance your quality of life,” he stressed.
Yacob also expressed optimism that the ministry’s loan assistance will boost the beneficiaries’ operations and ensure their long-term success.
According to MAFAR, the program offers uncollateralized loans of up to P100,000 for each qualified farmer cooperative, payable in three years with a zero percent interest rate on loans.
Meanwhile, the director general for MAFAR Fisheries Services, Pendatun Patarasa, said that the ministry will continue to strengthen its programs and projects to help boost the economic condition of the farmers and fisherfolk.
“As you received this check, I hope this will help your business generate more income. The government will be your partner at all times. In return, you will be responsible for taking care of it, maintaining it, and boosting your coop,” he said. (With reports from MAFAR-BARMM).
