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26 ARBOs in northern Negros to benefit from loan payment respite

By Nanette Guadalquiver

August 4, 2022, 7:04 pm

BACOLOD CITY – Some 26 agrarian reform beneficiaries organizations (ARBOs) in northern Negros Occidental will benefit from the loan payment condonation and the one-year moratorium on payments of amortization and interest.

The move to assist the ARBs was pushed by President Ferdinand Marcos Jr. during his first State of the Nation Address last July 25.

As of Thursday, these ARBOs, which are under the coverage area of the Department of Agrarian Reform Negros Occidental-I (North), have availed of the Agrarian Production Credit Program (APCP) as part of the agency’s support services under the Comprehensive Agrarian Reform Program.

Through the ACPC, the beneficiaries have been granted loans through the Land Bank of the Philippines (LBP).

After being awarded the land titles, they also pay the LBP a total of 30 annual amortizations, starting one year from the date of registration of their certificate of land ownership award.

“This is a good program. It will bring relief to our beneficiaries once the executive order is issued,” Provincial Agrarian Reform Program Officer II Teresita Mabunay said over the Provincial Capitol’s Radyo Negrense.

She pointed out the ARBs can instead use the condoned amount to buy farm implements and their household needs.

“It will definitely bring positive impact to the ARBs. It is a challenge to do farming if you don’t have capital. Even the price of fertilizers is just high,” she added.

Earlier, Agrarian Reform Secretary Conrado Estrella III said the Office of the President is already drafting the executive order that will unburden the farmers of their dues.

“Once drafted and approved for implementation, this moratorium would be beneficial to 654,047 ARBs,” he added.

Marcos also urged Congress to pass a law that will lift the burden off ARBs who have loan dues so they could concentrate on farm productivity.

The President pushed for an amendment to Section 26 of Republic Act 6657, or the Comprehensive Agrarian Reform Law of 1988 to unburden the farmers from their loans and interests. (PNA)

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