THE WAY FORWARD │ Level Up Philippine Agriculture!

5th PSAU Anniversary

Author: DA Communications Group | 27 January 2020

Agriculture Secretary William D. Dar attended the 5th Anniversary of the Pampanga State Agricultural University (PSAU) on January 24, 2020 wherein he led the launching of two loan programs totaling to P2 billion (B) in funds to encourage young Filipinos to go back into farming.

Under the management of the Department of Agriculture’s (DA) Agricultural Credit Policy Council (ACPC), the Kapital Access for Young Agripreneurs (KAYA) and Agrinegosyo loan program are set to roll out to provide financial assistance to young Filipinos.

KAYA, with a total funding of P1B, offers up to P500,000 loan payable in five years at zero percent interest. Interested individuals ages 18-30 years old must present an extensive business proposal, for review and assessment. Once validated and approved, partner state universities, non-government organizations and private sector will serve as mentors.

Meanwhile, Agrinegosyo offers cash loan amounting from P300,000 to P15million to individuals and institutions who are already engaged or are interested to establish micro and small agribusiness enterprises.

Similar to KAYA, the credit is payable in 5 years at zero percent interest. Dar stressed that the credit programs form part of the strategies of the government to address the ageing population of Filipino farmers. (Photos by Gian Carlo Luague, DA-AFID)