Wednesday, September 16, 2009

Davao farmers get loan assistance

Lawyer Karlo Nograles, son and chief of staff of House Speaker Prospero Nograles, distributes loan checks to coconut farmers in Davao City.

DAVAO CITY, Philippines – Coconut farmers in Davao City in Mindanao received loan assistance from House Speaker Prospero Nograles and the Philippine Coconut Authority.

The beneficiaries of the two million pesos loan assistance were members of the Davao City Coconut Farmers Federation Incorporated.

The lawmaker’s son and chief of staff, lawyer Karlo Nograles, facilitated the release Friday of the loan without interest to help coconut farmers.

He said the money was part of the five million pesos earlier pledged to coconut farmers during a memorandum of agreement signed by the solon, the PCA and Davao City Coconut Farmers Federation Incorporated.

Nograles said the remaining three million pesos will be given to the farmers if they are religious in paying their loan within five years without interest. The amount received by the coconut farmers corresponded to the size of their farms.

“A total of 610 hectares corresponding to 225 coconut farmers in Talomo District and 100 more coconut farmers in Toril District are the beneficiaries of this loan assistance,” the young Nograles said.

He said the Office of the House Speaker acted as guarantor to the loan which can help the farmers improve their situation.

“This is the first time that such kind of loan assistance is given to coconut farmers in Davao City. We hope the farmers use the money wisely and repay them back so others can benefit also from the loan assistance,” Nograles said.

The loan, he said, is part of the so-called “Oplan Kabuhayan” program of the solon to help improve the lives of many poor families in Davao City.

No comments: