The government has launched a loan payment moratorium for farmers and fishers to protect rural livelihoods from rising energy prices and production costs, the Department of Agriculture (DA) said.
Under the program, borrowers with the Agricultural Credit Policy Council (ACPC) can apply to suspend debt repayments for up to a year. The ACPC, an agency attached to the DA, will require applications to undergo review and approval by partner lending conduits, including government financial institutions, rural banks, and cooperative banks.
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The initiative falls under the Survival and Recovery (SURE) Program, established by Administrative Order No. 2, series of 2017. The program aims to help agricultural workers recover…