BANK of the Philippine Islands' microfinance arm BanKo on Wednesday launched the Agri NegosyoKo Loan program, aimed at improving the livelihood of small-scale Filipino farmers, in collaboration with agri-tech firm Agrilever.'The Philippines is an agricultural country, and to sustain and expand farming opportunities, we must support our farmers with programs that help them grow their businesses,' BanKo President Rod Mabiasen Jr. said.
'Coupled with technological expertise, we will empower farmers and aggregators with opportunities for easier access to financing, technologies to help yield higher crops, and manage production with cost-efficiency,' BanKo Chairman Jojo Ocampo said.BanKo is offering a 2.3-percent monthly interest, payable at the end of the farmer's harvest season, to ease their financial burdens.'hat they are now able to get as loans here very reasonable, 2.3 percent per month,' Mabiasen said.