THE Department of Agriculture (DA) said it is digitizing its lending system for farmers, fisherfolk, and rural enterprises.
In a statement on Tuesday, the DA said the digital push, led by the Agricultural Credit Policy Council (ACPC), will introduce the Credit Fund Line facility to speed up the release of funds and the Agri-Credit E-Portal 2.0, which digitizes loan processes.
Agriculture Secretary Francisco P. Tiu Laurel, Jr. said the DA is simplifying loan requirements to address delays caused by documentary requirements.
鈥淏y simplifying loan requirements and expanding access to affordable financing, we enable farmers and fishers to invest in production, raise their incomes, and help stabilize the food supply,鈥 he was quoted as saying in the statement.
Mr. Laurel said the migration to digital addresses farmer complaints about delays in loan approval stemming from burdensome documentary requirements.
The DA said the Credit Fund Line program will accelerate the transfer of loan proceeds to partner lenders such as rural banks, cooperative banks, and non-government organizations.
Meanwhile, the Agri-Credit E-Portal 2.0 integrates the government鈥檚 Registry System for Basic Sectors in Agriculture and the DA鈥檚 intervention monitoring database, allowing for faster verification of applicants.
The DA said the ACPC has earmarked P3 billion for lending in 2026, covering programs such as AgriNegosyo, Kapital Access for Young Agripreneurs, and Survival and Recovery, along with Agrisenso Plus and Agri-Puhunan at Pantawid. 鈥 Vonn Andrei E. Villamiel
