Manila: 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.
According to Philippines News Agency, 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 mentioned that the program's maximum loanable amount has not been adjusted to keep pace with the rising costs of inputs and labor. Lee highlighted the significant increase in prices of seeds, fertilizers, and equipment for farming and fishing, along with the high cost of fuel. He argued that doubling the loanable amount to PHP50,000 under the SURE Program would give farmers and fisherfolk a fighting chance to rebuild their livelihoods.
Lee emphasized that the initiative is not just about loans for farmers and fisherfolk, whom he referred to as 'food security soldiers.' He stressed the importance of achieving cheaper food prices, ensuring food security, and protecting the backbone of the economy.
Furthermore, Lee renewed his call for the immediate passage of House Bill No. 1298, the 'Essential Crop Insurance Act,' which aims to reorganize the Philippine Crop Insurance Corporation (PCIC) to expedite compensation processes for loss in livelihood and financial assistance for farmers affected by disasters.
Lee concluded by stating that every peso invested in helping farmers and fisherfolk recover is an investment in the country's future.
