DA to resume ACEF

Manila, Philippines - The Department of Agriculture will soon resume providing credit assistance to organized groups of farmers, fisherfolk, and agri-fishery entrepreneurs through the Agricultural Competitiveness Enhancement Fund (ACEF).

Agriculture Secretary Proceso J. Alcala said the DA has completed the draft of a new set of implementing guidelines for ACEF.

One of the main highlights is that final loan approval will no longer be the exclusive authority of the DA secretary, but will now include the concurrence of the chairmen of the committee on agriculture and food at the Senate and House. 

At the Senate, the committee is chaired by Sen. Francis Pangilinan; and at the House, it is headed by Rep. Mark LLandro Mendoza.

The ACEF  created in 1996 under Republic Act 8178  is pool of funds consisting mainly of the duties or taxes collected from the imports various of agricultural and fishery products, except rice, covered under the minimum access volume (MAV) mechanism.

The fund is aimed at financially supporting farmers, fisherfolk and agri-fishery entrepreneurs to enhance their productivity and competitiveness, at local and export markets.

Upon his as-sumption in July 2010, Alcala sus-pended the proces-sing and approval of ACEF loans, pending review of its policies and guidelines after allegations of misuse surfaced.