Masaganang Agrikultura, Maunlad na Ekonomiya!

Agri loans now available for out-of-school youth in Ilocos Norte

Author: DA-AFID | 19 December 2022

The Department of Agriculture-Agricultural Credit Policy Council (DA-ACPC) launched its credit and financing facility for out-of-school youth (OSY) program on December 15, 2022.

DA Senior Undersecretary Domingo Panganiban stressed how the government recognizes and understands the critical role of the youth in the country’s agricultural and fisheries development. Thus, the new ACPC program, in addition to the DA’s Young Farmers Challenge, will encourage more young people to invest in the agriculture sector.

“Tulungan natin ang mga kabataan dahil sila ang pag-asa ng bayan,” he said. He also shared his belief that the positive change the country needs will start from the youth.

Through the ACPC credit facility, interested OSY who are willing to undertake livestock raising business will be able to loan up to P200,000 to finance three cattle fatteners. To ensure project sustainability, the OSY-borrowers are also required to undergo training in cattle raising.

The DA-ACPC partnered with rural cooperative banks to act as delivery channels of direct loans to eligible OSY borrowers.

Other partners including the Bureau of Animal Industry (BAI), Agricultural Guarantee Fund Pool (AGFP), Philippine Crop Insurance Corporation (PCIC), Ilocos Norte local government unit were also tapped to ensure the success of the program.

The OSY borrowers will be equipped with technical skills and competencies through technical trainings and workshops. The partner agencies will also assist them in terms of market linkages and other extension services.

The credit program for OSY will also be launched in other priority provinces including Rizal, Bohol, Leyte, Surigao del Norte, and Tawi-Tawi. ### (Gumamela Celes Bejarin, DA-AFID)

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