Guagua Rural Bank (GRBank) in partnership with the Department of Agriculture provided loan funds to farmers and fishers in Central Luzon, whose livelihoods were affected by the pandemic.
A total of 1,567 marginalized small farmers and fishers (MSFF) from the provinces of Aurora, Bataan, Bulacan, Nueva Ecija, Pampanga, Tarlac, and Zambales received SURE COVID-19 aid under the Department of Agriculture-Agricultural Credit Policy Council (ACPC)’s SURE COVID-19 emergency loan program.
The New Rural Bank of San Leonardo (NRBSL), Guagua Rural Bank (GRBank), GM Bank and Alalay sa Kaunlaran Microfinance Social Development, Inc. (ASKI) – ACPC’s partner lending conduits in the region disbursed P39.2 million loan funds to farmers and fishers whose livelihoods were affected by the pandemic.
ACPC’s Program Management Officer for the region Cherry Acabal said that these lending conduits target to provide P25,000 non-collateralized, interest-free loan payable up to 10 years to 3,457 MSFF in Region 3, most of which are new borrowers.
ACPC’s field-based Program Management Officer for Region 3 Arnie Alover, said that farmers and fishers were oriented about the SURE COVID-19 Program. He added that in order to safeguard the borrowers’ protection against the virus during loan processing and release, health protocols were strictly observed and enforced by the ACPC, DA Regional Field Offices (DA-RFO), local government units (LGU) and lending conduits.