DA-ACPC turns over P90M credit funds for climate change adaptation

RELEASE DATE

03 October 2016
The Department of Agriculture (DA)-Agricultural Credit and Policy Council (DA-ACPC), provided a total of P90-million to nine (9) partner-cooperative banks for the implementation of the Climate Change Adaptation Financing Program (CCAFP) under the Agricultural Fisheries Financing Program (AFFP).

ACPC Executive Director Jocelyn Alma R. Badiola led the turn-over ceremony on September 27, 2016 at the ACPC Office in Pasig City.

The CCAFP is a special financing program that aims to encourage small households to cope or adapt to the adverse effects of climate change thru the provision of loans for climate change-resilient practices and technologies. The program is under the P3-billion credit fund of 2013 and 2015 General Appropriations Act (GAA).

Under CCAFP, the cooperative banks will provide loan assistance to individual small farmers and fisherfolk (SFF) registered in Registry System for Basic Sectors in Agriculture (RSBSA).

To encourage the SFF to participate in the program, the DA regional field units (DA-RFU) shall be responsible of the determining the possible technology packages for the area. DA-RFU will also help in identifying and endorsing Technical Service Providers (TSP) and potential borrowers to the participating cooperative banks. ACPC will provide incentives to SFF to encourage them to comply with climate change adaptation practices and technologies.

CCAFP will initially cover the provinces included in the 18 priority major river basins in the country and the provinces affected by typhoon Yolanda. These include the provinces of Ilocos Sur, Isabela, Tarlac, Quezon, Camarines Sur, Iloilo, Negros Occidental, Bukidnon, Davao, and Cotabato.

The program is in pursuant of the financing response for the Adaptation and Mitigation Initiative in Agriculture (AMIA) program under DA Systems - Wide Climate Change Office (DA-SWCCO).

Under the program, ACPC tapped nine financial institutions which include: Cooperative Bank of Ilocos Norte (P10M); Ilocos Sur Cooperative Bank (P10M); Cooperative Bank of La Union (P10M); Cooperative Bank of Nueva Vizacaya (P10M); First Isabela Coopeartive Bank (P10M); Cooperative Bank of Negros Oriental (P10M); Negros Cooperative Bank (P5M); Cooperative Bank of Misamis Oriental (P10M); Bukidnon Cooperative Bank (P10M); and Cooperative Bank of Cotabato (P10M).