“The fresh fund augments the previous P4.495 billion the DA has cumulatively entrusted to LandBank, being the administrator of the ACEF lending program. Hence, to date it has a total portfolio of close to P6 billion that farmers, fishermen and agripreneurs can borrow under the ACEF,” Agriculture Secretary William Dar said in a statement on Friday.
Of the P4.495 billion ACEF money for lending, LandBank has so far approved P3.675 billion worth of projects while P796 million are still being processed, according to LandBank President and Chief Executive Officer Cecilia Borromeo. Most of the ACEF-funded projects, she added, are in Region 2 and the provinces of Occidental Mindoro, Nueva Ecija, Isabela and Capiz.
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