City loan program ready for farmers

CEBU, Philippines - Of the 56 associations of farmers in Cebu City, 50 could avail of the zero-interest loan program for farmers starting next month.

“Mag-release na ta sa amount. Ang target is to have 50 associations nga maka-benefit sa first batch. Ang unom later na sila. But depende kon makaapas sila sa project proposal,” city agriculturist Joey Baclayon said.

He added that the offering of the loan will be made on a first-come, first-served basis.

Under the program, each association can loan P50,000 to P100,000 depending on their proposal.

He said his office already made a template proposal for the farmers to easily comply as one of the requirements.

He also clarified that the initial plan of providing individual loan for farmers cannot be pursued this year.

According to him, the approved budget is only P5 million but he guaranteed this is only a start-off amount.

“So kon mo-work ni siya, ma-monitor ni og maayo,  ato ning i-expand kay kaning money mobalik ra man ni. Kon maayo gyud ang payment makabayad gyud kaayo sila, modugang pa ta, maybe additional P5 million,” he said earlier.

February this year, Baclayon officially announced the program in order to assist farmers earn more in their livelihood.

He said earlier there are farmers who are under contracts with private growers but are charged with higher interests.

“Dagko kaayong interest. Unya pabut-on lang pud like presyo, pila ilang kuhaon. So why not ang city mo-initiate og ingon ana di ba? Di pa mabug-atan ang mga farmers,” Baclayon said.  (FREEMAN)