INDEMNITY CLAIMS. Agriculture Secretary Emmanuel Piñol (3rd from right) turns over to Rural Bank of Miag-ao manager Rey Flores (3rd from left), PHP977,000 worth of indemnity claims of 80 farmers affected by calamity in Miag-ao, Iloilo on Friday (May 4, 2018). (Photo by Perla Lena)
MIAG-AO, Iloilo -- The Philippine Crop Insurance Corporation (PCIC) on Friday turned over the PHP977,000 indemnity claims of 80 farmers from Miag-ao this province whose production has failed due to calamity.
However, the funds did not go to directly to farmers but were released to the Rural Bank of Miagao, the conduit of the Agricultural Credit Policy Council (ACPC) of the Department of Agriculture (DA).
On top of the insurance claim, Agriculture Secretary Emmanuel Piñol announced that he will download PHP2 million under the Survival and Recovery Loan Program for the affected farmers.
Each farmer can loan up to PHP25,000 that requires no interest and collateral and payable in three years.
Piñol said that the loan program aims to help farmers recover. However, they are only allowed to borrow once.
Piñol was in Iloilo Friday for the Bulb Onion Field Day and Harvest Festival held in Brgy. Durog, Miag-ao. (PNA)
