Iloilo gets P30-M agri loan fund

The Department of Agriculture (DA) has allocated a P30 million loan fund for two towns in Iloilo to help improve the country’s lending for the agriculture sector. Agriculture Secretary Emmanuel Pinol said the department has allotted P20 million for Dumangas town and another P10 million for Passi City as part of the Production Loan Easy Access program. The program allows farmers and fisherfolks to borrow from P5,000 to P25,000 without any collateral and a six percent annual interest payable in at least two years.