TUGUEGARAO CITY, Cagayan (PIA)—The Department of Agrarian Reform (DAR) Region 2 has condoned over P1.5 billion debts owed by Agrarian Reform Beneficiaries (ARBs) in Cagayan Valley Region through the issuance of a Certificate of Condonation and Release of Mortgage (CoCRoM).
This initiative aims to enhance productivity among farmers, ultimately leading to greater financial security and food sufficiency in the region.
In Isabela, the condonation covered 25,773 land titles of 21,896 hectares, and 21,486 farmers will benefit; in Cagayan, 6,000 land titles of 63,000 hectares for 5,000 farmers; in Quirino, 330 land titles of 300 hectares for 340 farmers; and in Nueva Vizcaya, 182 titles of 152 hectares for 154 farmers.
Regional Director Primo Lara said 5,500 of the said beneficiaries are set to receive their certificates of condonation and release of mortgage next month to be personally handed out by President Ferdinand R. Marcos Jr. in Cabagan, Isabela.
“We are just waiting for the confirmation of the president on the exact date,” he said.
Lara emphasized that while the CoCRoM program aids in the cancellation of land purchase debts with LandBank of the Philippines, it does not cover other debts related to production.
“The CoCRoM will not cover debts of the ARB beneficiaries for the production component,” he clarified. (OTB – PIA Region 2)
