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Manila Bulletin devider Philippines devider National devider Gov't condones close to P1-B loans of farmers in Central Mindanao

Gov't condones close to P1-B loans of farmers in Central Mindanao

Published Dec 5, 2024 06:30 am

President Marcos said almost P1-billion debts of farmers in Central Mindanao have been condoned.

Screenshot 2024-12-05 142729.png
President Ferdinand 'Bongbong' Marcos Jr. and DAR Secretary Conrado Estrella III distribute Certificates of Land Ownership Awards (CLOAs) and Certificates of Condonation with Release of Mortgage (CoCROMs) to agrarian reform beneficiaries in Central Mindanao on Dec. 5, 2024. (RTVM Screenshot)

He said this while leading the distribution of 1,251 Certificates of Land Ownership Awards (CLOAs) and 13,527 Certificates of Condonation with Release of Mortgage (CoCROMs) to agrarian reform beneficiaries (ARBs) in the region on Thursday, Dec. 5.

Marcos said the 11,709 beneficiaries from Sarangani, Cotabato, South Cotabato, and Sultan Kudarat will be freed from P939 million in loans, interests, and surcharges.

“Sa madaling sabi, mapapa-walang bisa ang halos isang bilyong pisong utang, kasama ang amortisasyon, interes, at surcharges, ng ating mga magsasaka (In other words, almost P1 billion of debts, including amortization, interest, and surcharges of our farmers were condoned)," Marcos said in his speech.

With this, the President told the farmers that they can now use their savings for other necessities.

Meanwhile, on the same day in Davao Region, a total of 9,158 ARBs from Davao Del Norte, Davao De Oro, and Davao Oriental were freed from their debt amounting to P678,103,641.35.
Preserve Sarangani's natural resources

In his speech during the event, Marcos also called on the people of Central Mindanao to continue conserving the region's abundant natural resources and strengthen the country’s agriculture.


“Patuloy pa natin itong iniingatan at pinapatatag dahil napapadalas ang bagyo sa ating bansa bunsod ng tinatawag na climate change o pagbabago ng ating klima, (Continue to preserve these natural resources as typhoons intensified by climate change continue to hit the country)” he added.

The Chief Executive also touted the near completion of the flood mitigation structure in Alabel and Kiamba, and expressed hopes that the flood control infrastructures would mitigate flood and damages on Sarangani’s crops.

Related Tags

Agrarian Reform Beneficiaries (ARBs) President Marcos Central Mindanao
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