P600M available to sugar planters through socialized credit program

Posted by watchmen
February 13, 2018

By Dominique Gabriel G. Bañaga


According to Sugar Regulatory Administration (SRA) board member, Atty. Emilio Yulo III, SRA-registered small sugar planters are eligible to take advantage of a socialized credit program worth P600 million.

Yulo explained, the P300 million fund went unspent last year, which combined with another P300 million allocation this year.

He added, the fund is part of a P2 billion allotment from the Sugarcane Industry Development Act (SIDA).

However, during a recent visit to the region by Senator Cynthia Villar, she noted, due to underspending last year, the current SIDA budget allocation is down to P1.2 billion after initially lobbying for another P2 billion.

Yulo said mechanics of the program will be provided in the coming days, noting, farmers will be able to borrow loans in the amount of P40,000 per hectare./DGB, WDJ

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