Government will roll out a P1.5-billion loan program for farmers who were affected by the Rice Tariffication Law (RTL) due to the influx of cheaper rice imports.
At the sidelines of a forum on hybrid rice recently, Agriculture Secretary William Dar said instead of an initial conditional cash transfer to help the rice farmers, the Department of Agriculture (DA) has changed it to a one-time loan program.
“Affected rice farmers may avail of a P15,000-loan via SURE Aid.”
Dar said under the program, affected rice farmers tilling one hectare of land and below may avail of a P15,000-loan via the Expanded Survival and Recovery Assistance Program for Rice Farmers (SURE Aid).
Under SURE Aid which starts on Sept. 1, 2019, rice farmers who are farming a one-hectare land and below, may avail of a one-time, zero-interest loan of P15,000 payable in eight years.
Under the said program, the National Food Authority (NFA) will buy the produce of the rice farmers who will avail of the loan assistance.
“This loan assistance is a manifestation of the strong desire of the government to help Filipino rice farmers,” Dar said.
SURE Aid aims to provide loan assistance for immediate relief to rice farmers affected by the reduction or loss of their farm income.
The program also intends to help rice farmers regain their capacity to continue with their production.
“Rest assured that with RCEF, farmers will increase productivity and earn more.”
“We will continue to look at measures to improve the living conditions of our rural stakeholders. Rest assured that with RCEF, farmers will increase productivity and earn more,” the agriculture head said.
“At the end of the day, aangat lahat (everybody will prosper),” he added.