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  • Writer's pictureChristian Malnawa

BFAR-CAR allots 11.9M zero interest loan program for Abra fisher folks

Updated: Jun 23, 2021

Abra, Philippines – Through the Expanded SURE-Aid and Recovery Project or SURE COVID-19, the Bureau of Fisheries and Aquatic Resources-Cordillera (BFAR-CAR) has allotted P11, 925,000 to recipients in the 19 selected towns of Abra.

This is a continuous program of BFAR-CAR to help fisher folks affected by the Covid-19 pandemic to start anew.

Around 477 fisherfolks in Abra could now avail of a P25,000 loan assistance offered with zero-interest, no collateral, and payable in 10 years. This will provide recipients the opportunity to fund their emergency and production capital requirements.

Recipients include 11 from Bangued, 62 from Bucay, 2 from Bucloc, 13 from Daguioman, 11 from Danglas, 39 from Dolores, 1 from La Paz, 10 from Lagangilang, 51 from Lagayan, 124 in Langiden, 20 from Licuan-baay, 1 from Malibcong, 24 from Manabo, 2 from Pilar, 7 from San Isidro, 9 in San Juan, 2 from Tayum, 1 from Tineg and 87 from Villaviciosa.

As of press time, BFAR-CAR has already catered to around 41 recipients since distribution is limited to abide with the public health protocols.

The total net proceeds will be credited to the borrower’s Land Bank Philippines account after the forging of the Memorandum of Agreement at the bureau’s provincial fisheries office-Abra. The agency said that the service fee and documentary stamp will be deducted from the principal amount.

As recalled, 53 from Kalinga in March have also availed of said loan assistance, while 117 fisher folks from Apayao also benefited this month from the program.

Qualified for the loan programs are fisherfolks registered with the Fisherfolk Registration System or the Registry System for Basic Sectors in Agriculture, a non- 4Ps (Pantawid Pamilyang Pilipino Program) recipient, marginal or low-income fisherfolk, and has not availed other loan assistance from the Department of Agriculture.

Aside from fisher folks, farmers and micro and small enterprises (MSEs) engaged in agriculture and fisheries food production, delivery products, and other supply chain activities can also avail of said loan.



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