DA hit for underutilization of P1-B fund for farmers

MANILA, Philippines – Vice President Jejomar Binay hit yesterday the Department of Agriculture (DA)’s underutilization of a P1-billion fund intended to help small farmers and fishermen in the country.

“The Agriculture and Fishery Financing Program (AFFP) is a P1-billion credit facility, and yet only P106.5 million has been released to farmers and fisherfolk borrowers in 2014,” Binay said, citing a recent report by the Commission on Audit (COA).

He said the AFFP provides loans to increase productive capacity, competitiveness and income-earning potential of non-agrarian reform beneficiaries.

“We urge the Department of Agriculture, through the Agricultural Credit Policy Council (ACPC), to maximize the use of this fund to benefit thousands of farmers and fisherfolk who need sources of funding,” he added.

The use of the fund will greatly help the agricultural sector, especially in achieving food security, Binay noted.

COA, in its 2014 audit findings, said the DA and its partners, the Land Bank of the Philippines (LBP) and the People’s Credit and Finance Corp. (PCFC), have approved P421.64 million in loans, but only P106.5 million or 10.7 percent of the fund has been released to small farmers and fisherfolk borrowers.

Binay earlier questioned the administration’s readiness to protect around one million agriculture sector workers who stand to lose their jobs within the next six months of an intensified El Niño dry spell.

He said the government is resorting to band-aid solutions to the problem, adding that the budget set aside for emergency employment programs will only benefit 70,000 rural workers.

Binay urged the government to draw up more concrete measures to protect El Niño-affected workers.

About 83 percent of the country, including Metro Manila, would likely experience drought by the end of April next year due to El Niño, the Philippine Atmospheric, Geophysical and Astronomical Services Administration earlier warned.