Marcos distributes loan condonation certificates to 1,000 ARBs

(INQUIRER FILE PHOTO / GRIG C. MONTEGRANDE)

MANILA, Philippines — President Ferdinand “Bongbong” R. Marcos Jr. on Thursday led the distribution of Certificates of Condonation and Release of Mortgage (COCROMs) to 1,000 agrarian reform beneficiaries (ARBs) during a ceremony in Quezon City.

The COCROMs serve as proof that the government has condoned the debts of the ARBs related to their agricultural lands.

“Nangangahulugan na ang benepisyaryo ng programang ito ay lalaya mula sa pagkakautang ng lupaing inyong pinangangalagaan,” Marcos said in his speech.

(The beneficiaries of this program will be freed from the debt related to the land they are taking care of.)

“Hangad ng administrasyon ko na ang inyong naipon na sana ay ipangbabayad sa lupa ay inyo ngayong magagamit para sa ibang bagay na makakatulong sa inyong mga kinabukasan,” he added.

(My administration hopes that the money intended for paying the land will now be utilized for other things that can help secure your future.)

The government condoned about P274.9 million in debts for ARBs from various municipalities in Bulacan.

“Bahagi ito ng ating pagpapatupad ng New Agrarian Emancipation Act (NAEA) na naglalayong pagaanin ang inyong buhay at maibsan ang inyong paghihirap dahil sa amortisasyon, sa interes, at iba pang mga surcharges na halos naging kakambal na ng lupang sakahan sa loob ng maraming taon,” Marcos explained.

(This is part of our implementation of the New Agrarian Emancipation Act (NAEA), which aims to ease your lives and alleviate the hardships caused by amortization, interest, and other surcharges that have almost become inseparable from farmland over the years.)

Moreover, the government also awarded 343 Certificates of Land Ownership Award to 287 ARBs from Nasugbu, Batangas.

It is a document proving that ARBs own the land awarded to them by the Department of Agrarian Reform.