FROM THE MARGINS In my previous article, I lamented the declining contribution of agriculture to the country’s gross domestic product. As we are an agricultural country that is rich in natural resources, we should aim to grow our agricultural sector to a level that surpasses services and industry...
The new Agri-Agra law gives a much-needed break to the agriculture sector, Senator Cynthia Villar said on Tuesday Aug. 2. Villar explained that financing for farmers and fisherfolk would be expanded, and reaching the agricultural sector and promoting rural development would be more effective since...
The Department of Finance (DOF) welcomed the enactment of the Agriculture, Fisheries and Rural Development Financing Enhancement law, commonly known as Agri-Agra law, that is expected to boost the local farm sector. In a statement Friday, July 29, Finance Secretary Benjamin E. Diokno said Republic...
AGRI Party-list Representative Wilbert T. Lee (Photo taken from the LKY Group of Companies Website) A long-time advocate of the agriculture sector, Wilbert T. Lee is the representative of AGRI partylist, also known as AGRI-AGRA Na Reporma Para Sa Magsasaka ng Pilipinas in the 19th Congress. The...
In a bid to entice more borrowers from the agriculture sector, Bank of the Philippines (BPI) has opened a loan program to small and medium enterprises (SME) with no collateral and fewer documentary requirements. BPI Business Banking Head Eric Luchangco said in a statement that the Ayala-led bank is...
Amid the pending amendments to the Agri-Agra Reform Credit of 2009 (Agri-Agra Law), the Land Bank of the Philippines (LANDBANK) said it is open to revisiting its existing loan application requirements to make it easier for farmers and fishermen to borrow from the state-run bank. In a statement,...
The Indian government has extended $50,000 worth of assistance to the Philippines' corn sector and has even initiated a bilateral exchange on agricultural technology with the Philippine government. Photo by Gaspar Uhas on Unsplash During the general membership meeting of the Philippine...
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno is doubling efforts for the enactment of an Agri-Agra Law with an updated financing approach to agrarian reform, fisheries, and agricultural sector that is more relevant and timely to improve the agricultural ecosystem. Benjamin Diokno,...
The Bangko Sentral ng Pilipinas (BSP) has included households and the community of agrarian reform beneficiaries (ARB) as qualified borrowers for agriculture, fisheries and agrarian reform credit in a new circular. BSP Circular No. 1111 (Amendments to the Rules and Regulations on the Mandatory...
The Philippine government is hoping to end the more than a decade of non-compliance with the Agri-Agra Act, which requires private banks to lend a portion of their funds to farmers and fishermen. This, as the government finally issued the amended implementing rules and regulations (IRR)...
