DBP launches loan program for coco farmers

The Development Bank of the Philippines said it launched a special credit facility for coconut farmers in the country as part of its effort to help develop one of the major segments of the local agricultural sector. | AldenMonzonINQ /PDI

Through this new loan program, dubbed as the Coconut Farmers and Industry Development Credit Program, eligible coconut farmer enterprises and coconut farmers’ cooperatives and organizations may borrow funds to finance coconut value chain projects.These include the acquisition of machinery and equipment, establishment of production and postproduction facilities, as well as for the establishment of intercropping and livestock poultry integration in coconut farms.

“We believe that a robust agribusiness sector is one of the keys to achieving a food-secure Philippines. Through this new loan program, DBP aims to pave the way for coconut farmers and ‘agri-preneurs’ to thrive in a highly competitive market,” DBP president and CEO Michael de Jesus said in a statement.

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