The DBP announced a new deal to promote financial inclusion in Ilocos.
Development Bank of the Philippines (DBP) alongside other cooperatives in Ilocos Norte and Ilocos Sur have inked a deal that will boost access to bank financing opportunities and capacity-building initiatives.
Lodged under the Expanded Rice Credit Assistance-Rice Competitiveness Enhancement Fund (ERCA-RCEF), the DBP is provides zero-interest loans to farmers meet the crieteri, who have no outstanding loan from formal lending institutions and the Department of Agriculture-Agricultural Credit Policy Council credit conduits for the same project being applied for.
Eligible farmer must also have undergone technical training on palay-related initiatives. The said project is a credit facility providing rice farmers and their cooperatives by improving their productivity and increasing their income amid the liberalization of the Philippine rice trade policy.
