MARAWI CITY – Eighty small farmers and fisherfolks from Lanao del Sur each received P25,000 zero percent cash loan from the Ministry of Agriculture, Fisheries and Agrarian Reform (MAFAR).
A delegation from the MAFAR regional office led by Senior Agriculturist Ramil Timpolok and Agriculture Credit Policy Council Provincial (ACPC) Focal Person Nassem Sarangani officiated Friday, May 28, the third batch of loan distribution in Marawi City.
The loan assistance aims to finance the emergency and production capital requirements of the beneficiaries in order to ensure availability of food supply. The loan was granted through MAFAR’s expanded Sure Aid and Recovery Project in partnership with ACPC of the Department of Agriculture.
In his message delivered by Sarangani, MAFAR Provincial Director Atty. Khalid D. Ansano reminded the beneficiaries to properly use the loan and maintain credibility by paying back responsibly so they can continue receiving support from the Bangsamoro Government.
“Maihahalintulad po natin ito sa pagtatanim; itanim natin ng maayos ang binhi (loan) na ating natanggap at alagaan upang ito ay lumago at mapakinabangan natin ng mas matagal,” he said.
Beneficiaries were given ten years to pay at zero percent interest with no collateral required.
The distribution of cash loan was conducted through Landbank of the Philippines Lanao Lending Center, which serves as the lending conduit for the province
MAFAR targets to extend loan assistance to 2500 poor farmers and fisherfolk across the Bangsamoro region. (BANGSAMORO INFORMATION OFFICE / MINDANAO EXPOSE’)
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