Quantcast
Latest Stories

Rehab of banana plantations set

By

A rare cloud formation is seen amid destroyed banana plantation four days after typhoon Pablo rendered extensive damage to agriculture at Montevista town, Compostela Valley, on Dec. 8, 2012. Sumifru Banana Corp., Land Bank of the Philippines and banana growers in areas hard-hit by Pablo are set to sign a tripartite agreement to rehabilitate affected banana plantations in Davao Oriental and Compostela Valley, Agriculture Secretary Proceso Alcala said on Friday, Jan. 4, 2013. AP/BULLIT MARQUEZ

MANILA, Philippines—Japanese firm Sumifru Banana Corp., Land Bank of the Philippines and banana growers in areas hard-hit by Typhoon “Pablo” are set to sign a tripartite agreement to rehabilitate affected banana plantations in Davao Oriental and Compostela Valley.

“They will sign the agreement and assess the farmers’ needs by next week,” Agriculture Secretary Proceso Alcala said in an interview on Friday.

Alcala said the three parties met on Friday to lay out the rehabilitation plan for the country’s major banana-producing areas.

“They (the three parties) will be our conduit to ensure that interest rates (for the funds to be used in the rehabilitation) will remain single-digit,” he said, noting that the interest rates with collateral should not be more than 8 percent.

Earlier, LBP has offered a P2-billion loan facility for all the banana growers whose farms were destroyed by Typhoon Pablo.

The banana sector was hit by the typhoon in December, sustaining losses of P22.23 billion. The damage to agriculture and fisheries then ballooned to P29.1 billion, the highest in recent years, according to DA records.

According to a report of the DA’s field unit in Region 11, about P33.35 million will be needed for the rehabilitation of banana plantations in the region.

Alcala said since the rehabilitation effort might take at least a year, LBP had offered a two-year grace period in the payment of the five-year loans.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: agreements , Agriculture , banana plantation , bananas , Philippines , rehabilitation , Typhoon Pablo

  • http://profile.yahoo.com/UZMYIL5FXLVIHRZXBQGONZS6U4 Jhune

    Cooperation of all specially the financial institution is the best solution for speedy recovery, We can all help our country men not only financial or material thing but our sincere prayers for their sake.  

  • barry p

    Good to see help coming to the banana producers sector.

    To arao_liwanang….Sure people devastated by typhoons also need help.  

    And there are specific programs handled by SSS, GSIS, DSWD, Health Dept, etc. specifically to address that need.

    Different programs for different needs.  

    This news article SPECIFICALLY talks about the need of an industry employing thousands of people.  If you don’t help this sector those people will lose their livelihoods/jobs.

    Your statement is PATHETIC.  

    Typical of society’s termites from arroyo, estrada, binay camp. 

  • arao_liwanag

    What about the people devastated by the typhoon, do they don’t need speedy rehab more than the plantation? Where does the morality of the Aquino government lies.



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Camilla’s brother dies in US after head injury
  • Luisita farmers storm DAR compound
  • Trillanes, Ejercito confident they are not in Napoles’ list
  • Easterlies to prevail in Luzon, Visayas
  • Lacson eyes P106-B ‘Yolanda’ rehab masterplan
  • Sports

  • Mixers trim Aces; Painters repulse Bolts
  • Donaire junks Garcia as coach, taps father
  • ’Bye Ginebra: No heavy heart this time
  • UAAP board tackles new rules
  • Baguio climb to decide Le Tour de Filipinas
  • Lifestyle

  • Photos explore dynamics of youths’ sexual identity
  • 12th Philippine Food Expo set at the World Trade Center
  • No tourist draw, Malang the croc will remain wild
  • The best flavors of summer in one bite, and more
  • Homemade yogurt, bread blended with pizza, even ramen
  • Entertainment

  • Sony developing live-action Barbie comedy
  • California court won’t review Jackson doctor case
  • Return of ‘Ibong Adarna’
  • Practical Phytos plans his future
  • In love … with acting
  • Business

  • Facebook profits triple as mobile soars
  • Insular Honors Sales Performers at Testimonial Rites
  • Apple increases stock buyback, will split stock
  • Cost-recovery provisions for affected gencos urged
  • This time, BIR goes after florists
  • Technology

  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • ‘Unlimited’ Internet promos not really limitless; lawmakers call for probe
  • Viber releases new design for iPhone, comes to Blackberry 10 for the first time
  • Engineers create a world of difference
  • Opinion

  • Editorial cartoon, April 24, 2014
  • Talking to Janet
  • Respite
  • Bucket list
  • JPII in 1981: walking a tightrope
  • Global Nation

  • Filipinos in Middle East urged to get clearance before returning
  • PH seeks ‘clearer assurance’ from US
  • China and rivals sign naval pact to ease maritime tensions
  • What Went Before: Manila bus hostage crisis
  • Obama arrives in Tokyo, first stop of 4-nation tour
  • Marketplace