A TOTAL of P160 million worth of insurance payments will be released next week by the Philippine Crop Insurance Corp. (PCIC) to farmers affected by tropical depression Usman, Agriculture Secretary Emmanuel F. Piñol said on Wednesday.
“PCIC President Jovy C. Bernabe reported that checks covering insurance payments worth P160-M are now being prepared for release next week,” Mr. Piñol said in a Facebook post.
“Bernabe said around 14,200 farmers in Bicol region would get a total of P116 million while 4,300 farmers in the provinces of Northern and Eastern Samar would be paid P32.5 million. Farmers numbering around 1,503 in Quezon and Oriental Mindoro will receive P11.9 million,” Mr. Piñol added.
The Agricultural Credit Policy Council (ACPC) is now also preparing the listing and validation of farmers and fishermen who will be lent up to P25,000 for no collateral at zero interest on a per-family basis, under the Survival and Recovery (SURE) Loaning Program of DA, according to Mr. Piñol.
The DA’s Production Loan Easy Access (PLEA) program meanwhile is also available at no collateral, and 6% annual interest, for farmers and fishermen.
“Last week, I promised President Duterte that the release of the support and interventions will be done quickly so farmers can still catch up with the planting season in the first quarter of 2019,” Mr. Piñol said.
The DA earlier reported that agricultural damage caused by Usman amounted to P1.18 billion with an estimated volume loss of 25,240 metric tons (MT). The affected area was 62,231 hectares and involved 56,108 farmers and fisherfolk. — Reicelene Joy N. Ignacio