DA approves £ 300million fund to lend to pig farmers
MANILA, Philippines – The Department of Agriculture (DA) has approved a 300 million peso loan fund to help the local swine industry recover from the ravages of African swine fever (ASF).
In a statement, Agriculture Secretary William Dar said the loan fund was intended for “green areas” or areas that the DA has declared ASF-free, particularly the regions of Mimaropa, the Western Visayas, the Central and Zamboanga Peninsula Visayas.
The fund will be made available through the Agri-Negosyo (Anyo) loan program for the restocking, rehabilitation and recovery of pigs (R3).
This is implemented by the Agricultural Credit Policy Council in partnership with the Bureau of Animal Industry and the National Livestock Program, all of which are overseen by the DA.
The Anyo Swine R3 program is a special window for the national pork industry under the Agri-Negosyo credit facility, which aims to support the capital needs of micro and small agribusiness enterprises. The loans carry a zero interest rate and are unsecured.
Under the Anyo Swine R3 program, eligible borrowers can use the loan for their working capital needs for production, processing, marketing; acquisition of machinery or equipment; and / or building modern technological facilities for their pig breeding business.
“According to reports and continuous field monitoring, farm gate prices for pork have declined,” Dar said.
“A balance will be struck and there will be significant progress in the industry with all the efforts of government, the support of Congress and other stakeholders, including private sector commercial hog producers,” he said. he adds.
To subscribe to REQUEST MORE to access The Philippine Daily Inquirer and over 70 other titles, share up to 5 gadgets, listen to the news, download from 4 a.m. and share articles on social media. Call 896 6000.