Agriculture Secretary William Dar (PNA File Photo)
MANILA -- The expanded Survival and Recovery Assistance program (SURE Aid) now stands at PHP2.5 billion following an infusion of additional PHP1-billion fund.
In a press conference on Friday, Agriculture Secretary William Dar said around 170,000 small rice farmers are now expected to benefit from the program.
Dar said SURE Aid is aimed at providing loan assistance for immediate relief to rice farmers affected by the impact of low palay prices as a result of the rice tariffication law, or Republic Act 11203.
Under the program, rice farmers tilling one hectare and below can avail of PHP15,000 SURE Aid loan at zero interest and payable in eight years.
Launched on Sept. 2 in Nueva Ecija, the DA expected a total of 600,000 rice farmers to avail of the program.
Dar said some 1,048 rice farmers in Nueva Ecija have already availed of the program.
However, the DA chief said the PHP2.5 billion is not enough for the remaining 430,000 rice farmers affected by the impact of the low palay prices.
"Maghahanap ang gobyerno para masiguro na matulungan natin ang lahat ng mga magsasaka (The government is still looking for other funding source so we can help all small rice farmers)," he said.
Meanwhile, the Land Bank of the Philippines, together with the DA, is rolling out a new lending program that would assist local government units (LGUs) purchase palay produced by local farmers to help cushion the effects of the drop in the price of palay in some regions.
The DA said this may also be caused by hoarding or stockpiling of some rice traders.
Land Bank President and Chief Executive Officer Cecilla Borromeo, during the press conference, said the Bank has earmarked PHP10 billion to fund the “PAlay aLAY sa Magsasaka ng Lalawigan (PALAY ng Lalawigan) Program” to assist provincial, municipal, and city governments of rice-producing areas nationwide to procure palay from small farmers, with a low interest rate of 2% per annum.
“This is a direct response of the Bank, together with the Department of Agriculture, to the call of the national government for a concerted effort of government agencies serving the agriculture sector to firm up its support for our palay farmers in the wake of the impact of lower palay prices,” Borromeo said.
Under the program, the provincial government will buy local palay and may operate a socio-economic enterprise to assist the farmers, whose incomes were adversely affected by the drop in the farm gate prices of palay. (PNA)
