Latest Stories

Agro-industry loans surged by 150% in 2012


Loans released under the Agro-Industry Modernization Credit and Financing Program (AMCFP) grew by 151 percent to P1.12 billion in 2012 from that of the previous year as the number of farmer clients also grew by 15 percent to 29,496, the Department of Agriculture (DA) said in a report.

The amount of loans released by the AMCFP in 2012 was also around 4 percent higher than the P1.08 billion targeted for the year under the program.

AMCFP is the financing program of the DA, as mandated by the Agriculture and Fisheries Modernization Act (AFMA) of 1997.

The Agricultural Credit Policy Council (ACPC) implements the program.

Agriculture officials said the improved performance of the AMCFP was due to the implementation of a depository scheme called AMCFP-Cooperatives Agri Lending Program (AMCFP-CBAP), which led to the immediate release of P935.6 million in loans in 2012.

Under the depository scheme, ACPC will place funds in special time deposits in participating cooperative banks. The cooperative banks will then use the funds to expand their agriculture and fishery loan portfolio.

“By putting the funds in [special time deposits] … ACPC is able to bring down the effective interest rates for end-borrowers. The number of borrowers under the AMCFP-CBAP reached 18,437 in 2012,” Agriculture officials said.

Under another program of the AMCFP, the Agri-Microfinance Program (AMP), a total of P137.8 million was released to 10,136 farmers and fisherfolk in 2012. The program provides credit to qualified microfinance institutions for relending to small individual borrowers.

The implementation in 2012 of the Sikat Saka Program, jointly implemented by the ACPC and the Land Bank of the Philippines (LBP), also contributed to the total loans granted under the AMCFP in 2012.

The Sikat Saka Program released P49.2 million in loans to 764 rice farmers in 2012. The program provides credit for palay production to eligible members of irrigators; associations to help meet the FSSP’s goal of attaining self-sufficiency in rice by 2013.

There was also the Cooperatives Agri Lending Program (CALP), which released loans amounting to P5.5 million to 159 borrowers in 2012. The CALP was implemented starting March 2011. It was a joint program of the ACPC and the Development Bank of the Philippines, which provided a revolving credit line for cooperatives.

From the time it was first implemented in 2003, the AMCFP has already granted a total of P5.44 billion in loans benefiting 198,085 farmer and fisherfolk nationwide as of December 2012.

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: agro-industry loans , AMCFP , Business , depository scheme

  • georgeB

    ano naman ang resulta? ilang generation na ng magnanakaw na mga politician dumaan..”agri-project”..etc etc,,at kung ano ano pang pangalan para lang mairelease ang funds…in terms of return of investments…may maipakita kaya ang DA?

  • Hayek_sa_Maynila

    More loans but no significant improvement in capital spending for agri…more needs to be done to cut down poverty rate and make growth more inclusive

  • http://pulse.yahoo.com/_BL2GYU35SO6HTJUEAUTXS3QFYM George Lapulapu

    i hope this translate into increase in production and productivity of commodities the country need..then export the surplus!!! way to go…

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


  • 16 suffer burns in Batangas sugar factory accident
  • Angat level drops; cloud seeding set
  • Indigenous aspiration in Bangsamoro
  • Banahaw continues to lure pilgrims, trekkers
  • Passion of Christ moves survivors
  • Sports

  • Tottenham beats Fulham 3-1 in Premier League
  • Martino defends Messi, takes blame for Barca fail
  • Vettel hoping for resurgence at Chinese GP
  • MLB pitcher donates $100,000 for Sewol ferry victims
  • Hamilton takes pole at Chinese Grand Prix
  • Lifestyle

  • Levine designs womenswear with help from fiancee
  • Gabriel Garcia Marquez, Nobel laureate, dies at 87
  • Ford Mustang turns 50 atop Empire State Building
  • Pro visual artists, lensmen to judge Pagcor’s photo contest
  • ‘Labahita a la bacalao’
  • Entertainment

  • Why ‘Noah’ can’t dock his ark at Philippine theaters
  • Acclaimed artist goes wild while on holiday
  • Believing in this mermaid
  • Missing Xian
  • Minnie Driver plays devastated mother to a stillborn child
  • Business

  • A workplace of new possibilities
  • Learning by doing: pilgrimage of faith
  • Fiat-Chrysler to produce iconic Jeep in China from 2015
  • US commerce secretary spells out economic facet of ‘pivot to Asia’
  • Italy sells luxury state cars on eBay
  • Technology

  • Nasa’s moon-orbiting robot crashes down
  • Netizens pay respects to Gabriel Garcia Marquez
  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Facebook rolls out ‘nearby friends’ feature
  • Netizens seethe over Aquino’s ‘sacrifice’ message
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • Cesar Chavez movie sparks memories of Fil-Am labor leaders
  • Filipinos in US poised for success
  • Visas for priests and other faith leaders
  • DOH to continue tracking co-passengers of OFW infected with MERS virus
  • 5 Filipinos with MERS in UAE reported in stable condition
  • Marketplace