DA orders loan moratorium for farmers, fishers amid energy crisis
MANILA — The Department of Agriculture (DA) has ordered a loan repayment moratorium for farmers and fisherfolk to help cushion the impact of rising fuel costs under the ongoing energy emergency.
The measure covers borrowers under the Survival and Recovery (SURE) Program of the Agricultural Credit Policy Council (ACPC), allowing eligible beneficiaries to temporarily suspend loan payments.
Agriculture Secretary Francisco Tiu Laurel Jr. said the initiative forms part of a broader government response to mitigate the effects of surging fuel prices on the agriculture sector.
“The loan moratorium is not a standalone measure, but part of a coordinated government effort involving financing institutions, local lending partners, and DA agencies working on rural resilience,” he said.
The program aims to prevent loan defaults while sustaining rural economic activity and supporting national food security goals.
Tiu Laurel added that the government is balancing immediate relief with long-term access to credit to ensure the sector remains productive despite external pressures, particularly higher fuel and fertilizer costs.
Under the policy, qualified borrowers with existing and outstanding loans may apply for a repayment suspension of up to one year, subject to evaluation and approval by partner lending institutions, including government financial institutions, rural banks, and cooperative banks.
ACPC Executive Director Rallen O. Verdadero said the grace period will allow farmers and fishers to focus on household needs while rebuilding their livelihoods.
The ACPC also assured that it is working closely with lending partners to ensure the efficient and timely implementation of the moratorium across the country.
NPO News Team | News Philippine Agency - PR
