MANILA – The Department of Agriculture (DA) on Tuesday said its partner financial institutions have so far listed PHP5.62 billion worth of loans that are awaiting approval to fund the country’s hog repopulation and rehabilitation activities.
National Livestock Program director Ruth Miclat-Sonaco said, in a live-streamed briefer, the LandBank of the Philippines has written the largest chunk of the total figure with 25 applications worth PHP3.287 billion.
“These are applications nationwide, two of these are already approved,” she added.
Twenty-three applications were received from Tarlac, Isabela, Pampanga, Zambales, Cavite, Rizal, Occidental Mindoro, Ilo-ilo, Negros Occidental, Cebu, Misamis Oriental, Bukidnon, and South Cotabato.
LandBank and Development Bank of the Philippines (DBP) are allocating PHP15 billion and PHP12 billion, respectively, for lending to commercial raisers.
The DBP has so far processed for approval seven accounts that applied for financial backing in their breeder farms and one wean to finish farm which is worth PHP2.3 billion.
Meanwhile, the DA, through the Agricultural Credit and Policy Council (ACPC), has also offered zero-interest loans, payable in three to five years.
Miclat-Sonaco showed data that ACPC has so far pre-approved 365 loan applications of individual small backyard hog raisers which are worth PHP32.33 million.
The DA-ACPC has set aside an initial budget of PHP500 million for this financing program.
DA’s biggest investments, the national hog repopulation and “Bantay sa ASF sa Barangay” (BaBAy) twin programs, have a combined public and private investments of PHP29.6 billion.
Miclat-Sonaco said the key to preventing the further spread of African swine fever is improving the raisers' biosecurity measures as she cited these efforts through the BaBAy Program.
Agriculture Secretary William Dar earlier said the twin programs span three years in implementation and will bear fruits gradually. (PNA)