The AGRI party-list is advocating for doubling the maximum loanable amount under the Department of Agriculture’s (DA) Survival and Recovery (SURE) Assistance Program to help farmers and fisherfolk recover from the worsening impacts of natural disasters.
Under the SURE program, agricultural workers affected by disasters can avail of a loan of up to PHP25,000 with zero interest and no collateral, payable up to three years, with a one-year moratorium on payment of loans under other Agricultural Credit Policy Council (ACPC) programs.
In a news release on Tuesday, AGRI Party-list Rep. Wilbert Lee said increasing the current cap of PHP25,000 to PHP50,000 should be studied as the current maximum amount is no longer adequate, especially in the face of the escalating frequency and severity of calamities due to extreme weather disturbances.
He said the program’s maximum loanable amount has not been adjusted to keep pace with the rising costs of inputs and labor.
“Malaki na ang itinaas sa presyo ng mga binhi, fertilizers at mga gamit sa pagsasaka at pangingisda, isama pa ang mataas na presyo ng gasoline (Prices of seeds, fertilizers and equipment for farming and fishing have vastly increased, including the price of fuel). Doubling the loanable amount to PHP50,000 under SURE Program will give farmers and fisherfolk a fighting chance to rebuild their livelihoods,” Lee said.
“This is not just about loans for our farmers and fisherfolk whom we consider our ‘food security soldiers.’ This is about achieving cheaper food prices, ensuring food security and protecting the backbone of our economy.”
Lee also renewed his call for the immediate passage of House Bill No. 1298 or the “Essential Crop Insurance Act,” which seeks to reorganize the Philippine Crop Insurance Corporation (PCIC) to fast-track the processes in compensating the loss in livelihood and giving financial assistance to farmers affected by disasters.
“Every peso we invest in helping our farmers and fisherfolk recover is an investment in our country’s future,” he said. (PNA)