The Federation of Free Farmers (FFF) has called on the Land Bank of the Philippines (LandBank) to advance funds for lending to farmers under the Agricultural Competitiveness Enhancement Fund (ACEF) credit program. This is equivalent to 80 percent of the ACEF fund balance of P5.15 billion in May 2018, it added. The DA can replenish whatever LandBank has advanced and even pay it interest, once additional ACEF funds become available,” said Montemayor. “We understand that the bank has to generate income from large corporate loans to cross-subsidize its credit programs for small farmers, which are riskier and more expensive. Meanwhile, the FFF urged the DA to closely and regularly monitor ACEF funds and not act only when the funds are already depleted.

Source: Manila Times July 20, 2020 18:00 UTC