Agrarian reform beneficiary organizations and associations will enjoy 8.5 percent interest rates from the Land Bank of Philippines when they avail of the P300 million credit assistance program of the Department of Agrarian Reform for Negros Occidental, Ledabelle Ardiente, DAR Negros-South agrarian reform program officer, said yesterday.

Ardiente said this is one of the biggest benefits that ARBOs will enjoy after they qualify for the application of the credit assistance program.

If farmers go to private lending institutions their interest rates range from 24 percent to 36 percent, which is 15.5 percent higher compared to the interest rate offered by LBP through the CAP, Ardiente said.

She also said that the DAR-South started the capability training to seven ARBOs starting Thursday at the Pavilion Hotel in Bacolod City in preparation for the credit assistance program.

Carlos Polmo, senior agrarian reform technologist, said the program is a joint project of the DAR, Department of Agriculture, and LBP that has a total fund of P1 billion for all ARBOs and associations in the country.

He said that DAR-South has 30 ARBOs that have submitted their applications for the program, who will all undergo the training.

Polmo also said the assistance will also help them finance their farms and acquire farming inputs for their production.

LBP has already started their credit investigation to 13 ARBOs in DAR-South and if they pass the evaluation, LBP will release their funds based on their project proposals, he said.

These are the Minaba Multipurpose Cooperative, Bajay-Patol ARB MPC, Sitio Gama ARB MPC, Hacienda Estela ARB MPC, Brgy. Balabag ARB Producers Coop, Nagasi ARB MPC, Casal-agan Workers MPC, Gen. Malvar Irrigators MPC, Hacienda Vizcaya MPC, Hacienda Carmenchika ARB & Farmworkers Association, and the Hacienda Cahilamonan-Triño Farmworkers MPC.

The Minoro-Isabel ARB Association, Dama ARB Farmworkers Association, Hacienda Malaga Cuenca ARB MPC, and Tara Small Farmers MPC are also among them.

John Rey Magbanua, chairperson of B-PARB MPC, said the assistance will help them finance their expenses and increase their production.

With 108 members in their cooperative, Magbanua added that they are able to sustain their income and benefits through credit programs of the government at much lower interest rates. *LTG

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