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SURE AID program of the government expands its credits for farmers

Department of Agriculture (DA) and Land Bank of the Philippines have increased its credit under the Expanded Survival and Recovery Assistance program (SURE Aid) by P1 billion.

This is by supplementing the initial P1.5 billion financial aid intended for farmers who are tilling one hectare or less of farm land.

“…we will now have a total of P2.5 billion [for SURE Aid in effect we will now be able to extend it to almost 170,000 farmers,” said by acting agriculture secretary William Dar.

SURE Aid recipients will be given a one-time and zero-interest P15,000-loan and could be obtained without a collateral. The borrowed amount is payable in a length of eight years.

Land Bank Lending Program assured there will be minimal requirements for the program, an initial 1,048 farmers have benefited from the program earlier this year (2019).

The agency are still looking for additional funding for the SURE Aid since there are over 600,000 small scale farmers all over the Philippines.

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