DA OKs P300-million fund for lending to hog raisers | Inquirer News
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DA OKs P300-million fund for lending to hog raisers

/ 05:10 AM September 12, 2021

MANILA, Philippines — The Department of Agriculture (DA) has approved a P300-million lending fund to help the local hog industry recover from the devastation caused by the African swine fever (ASF).

In a statement, Agriculture Secretary William Dar said the lending fund was for “green zones” or areas that the DA has declared as ASF-free, particularly the regions of Mimaropa, Western Visayas, Central Visayas and Zamboanga Peninsula.

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The fund will be made available through the Agri-Negosyo (Anyo) Loan Facility for Swine Repopulation, Rehabilitation and Recovery (R3) program.

This is being implemented by the Agricultural Credit Policy Council in partnership with the Bureau of Animal Industry and the National Livestock Program—all of which are supervised by the DA.

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The Anyo Swine R3 program is a special window for the domestic swine industry under the Agri-Negosyo credit facility, which is intended to support the capital needs of agrifishery-based micro and small enterprises. The loans carry zero-interest rate and are noncollateralized.

Under the Anyo Swine R3 program, eligible borrowers can use the loan for their working capital requirements for production, processing, marketing; acquisition of machinery or equipment; and/or construction of modern technology facilities for their swine raising venture.

“According to reports and continuous monitoring from the field, farmgate prices for pork have been decreasing,” Dar said.

“Equilibrium will be found and there will be significant strides in the industry with all the efforts of government, support of Congress and other stakeholders, including the private sector commercial swine raisers,” he added.

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TAGS: Department of Agriculture, financial aid for hog raisers, lending fund for hog raisers, William Dar
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