Bangsamoro Region

Lanao farmers, fisherfolk receive 0% interest cash loan from MAFAR

By Bangsamoro Information Office

Marginalized small farmers and fisherfolk from Lanao del Sur province received Php25,000, non-interest bearing, cash loan from the Ministry of Agriculture, Fisheries and Agrarian Reform and Agriculture Credit Policy Council.

MARAWI CITY, June 2–Eighty (80) marginalized small farmers and fisherfolk (MSFF) from Lanao del Sur province each received Php25,000, non-interest bearing, 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 on 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 MSFF to ensure the 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.

[We can compare it to planting, we should properly plant the seed (loan) that we received and take care of it so that it can grow and we can benefit from it longer.]

Beneficiaries were given ten years to pay at zero percent (0%) interest with no collateral required. It was distributed through the Landbank of the Philippines Lanao Lending Center which served as the lending conduit for the province.

MAFAR targets to extend loan assistance to a total of 2,500 poor farmers and fisherfolk across the Bangsamoro Region. Philippine Information Agency

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