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Agri Dept. looking at P500k loan program to entice youth to enter farming sector


The Department of Agriculture (DA) on Tuesday unveiled plans to set up a loan program that will grant up to P500,000 for farmers, in efforts to entice the youth to enter the farming sector.

At a press conference, Agriculture Secretary William Dar said the agency is looking at encouraging the younger generation back into farming, as Philippine farmers now have an average age of 60.

"We are pursuing an inclusive agribusiness program that will encourage and support the younger generation to go into agricultural enterprises," he told reporters in Quezon City.

"One objective is to set up a fund for them so that upon graduation or those that are in the countryside wanting to go into agribusiness, they will be given some start-up capital," explained Dar.

According to Dar, the program comes as most of the farmers in the Philippines already average 60 years in age, scoring the need for the younger generation to step in.

"Alam naman natin na ang mga magsasaka, matatanda na, averaging 60. In another eight to 10 years ay hindi na nila kaya magpatuloy sa pagsasaka at dapat mas maagap tayo para ma-engganyo natin ang mga kabataan sa farming at saka sa pagnengeosyo sa agrikultura," added Dar.

Dar said that prospective farmers will have to present their feasibility study and their transcript of records, which will be the basis of the loan.

"They present this and be able to get P500,000 and that's 0% interest and payable in five years," he said.

Dar noted, however, that the program will first have to be supported in Congress, which approves the yearly budget of government agencies.

"We need legislative support to make it possible that this will be a big national program," he said.

"Gusto natin masimulan ng January, 'pag makakuha kami ng budget," added Dar. — RSJ, GMA News

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