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Also, the matters contained in the following were written in accordance with the law, rules, and jurisprudence prevailing at the time of writing and posting, and do not include any future developments on the subject matter under discussion.
AT A GLANCE:
The week beginning the fourth Sunday of October of every year is declared as “Barrio Farmers’ Week” by virtue of Proclamation No. 76, series of 1954.
The week beginning the fourth Sunday of October of every year is declared as “Barrio Farmers’ Week” by virtue of Proclamation No. 76, series of 1954.
The law says:
“NOW, THEREFORE, I, Ramon Magsaysay, President of the Philippines, by virtue of the powers vested in me by law, do hereby declare the period from October 24 to 31, 1954 and every week beginning with the fourth Sunday of every October thereafter, as Barrio Farmers’ Week and authorize and direct municipal, provincial and national government officials to make available their facilities and personnel in the successful prosecution of the objectives of the Barrio Farmers’ Week, and designate the Department of Agriculture and Natural Resources to take charge of, and coordinate, all activities in commemoration of said week. I also urge civic-spirited citizens and civic organizations to cooperate wholeheartedly to insure the success of this observance.” (Proclamation No. 76, series of 1954)
The Agriculture, Fisheries and Rural Development Financing Enhancement Act of 2022
Under Republic Act No. 11901 or The Agriculture, Fisheries and Rural Development Financing Enhancement Act of 2022, a farmer refers to a natural person whose primary livelihood is cultivation of land or the production of agricultural crops, agro-forest products, or livestock, either by oneself, or primarily with the assistance of their immediate farm household, whether the land is owned by them or by another person under a leasehold or share tenancy agreement or arrangement with the owner thereof. (Section 3, par. n, R.A. No. 11901)
A farmworker refers to a natural person who renders service for value as an employee or laborer in an agricultural enterprise or farm regardless of whether the compensation is paid on a daily, weekly, monthly or pakyaw or contracted project. The term includes an individual whose work has ceased as a consequence of, or in connection with, a pending agrarian dispute who has not obtained a substantially equivalent and regular farm employment;
It is the policy of The Agriculture, Fisheries and Rural Development Financing Enhancement Act of 2022 to promote inclusive and broad-based economic growth by ensuring equal access to opportunities under an environment of sustained growth and expanding productivity as the key to raising the quality of life for all. Towards this end, the State shall promote rural development by enhancing access of rural communities and agricultural and fisheries households to financial services and programs that increase productivity, enhance market efficiency, and promote modernization and improve the welfare and economic prospects of beneficiaries in rural communities through active participation of banking institutions. (Section 2, R.A. No. 11901)
Section 4 of the law provides that:
“There shall be an agriculture, fisheries, and rural development financing system to improve the productivity, income, competitiveness and welfare of the rural community beneficiaries, particularly the farmers, fisherfolk, ARBs, ARCs, settlers, agricultural lessees, amortizing owners, farmworkers, fishworkers, owner-cultivators, compact farmers, tenant farmers, and members of their household and their MSMEs, as well as farmer’s and fisherfolk’s cooperatives, organizations and associations, through government and private banking institutions.
Agriculture, fisheries and rural development financing, as used herein, shall consist of loans and investments to finance activities that shall enhance productivity and increase income of an agricultural and fisheries household, thereby promoting agricultural sector productivity and competitiveness, as well as sustainable development of rural communities.
These shall include, but not be limited to: activities identified under the AMCFP as enumerated under Title 1, Chapter 3, Section 23 of Republic Act No. 8435, off-farm/fishery entrepreneurial activities, agricultural mechanization or modernization, agri-tourism, environmental, social and governance projects, including green projects, digitalization/automation of farming, fishery and agri-business activities and processes, acquisition of lands authorized under the Agrarian Reform Code of the Philippines and its amendments, efficient and effective marketing, processing, distribution, shipping and logistics, and storage of agricultural and fishery commodities, public rural infrastructure, as well as programs that shall promote the health and wellness of farmers, fisherfolk and ARBs, including members of their households, such as water and sanitation projects for rural communities, and address the developmental needs of rural communities, such as, but not limited to, projects that promote the livelihood, skills enhancement, and other capacity-building activities of the rural community beneficiaries and all other activities consistent or analogous to the foregoing.
Toward this end, banking institutions are expected to design and offer financial products and services that suit the specific requirements of their agricultural clients, taking into account their cash flows and the gestation and harvest period of the agricultural produce/activity/project being financed.” (Emphasis supplied.)
The financing mentioned above shall be extended to the rural community beneficiaries named therein or to cooperatives, associations, micro, small, medium enterprises (MSMEs) or organizations in good standing of such beneficiaries regardless of capitalization.
The financing shall be based on the following:
- Feasibility of the project;
- The beneficiaries’ capacity to pay;
- Their estimated production;
- Securities that they can provide; and
- Assets that may be acquired by them from the proceeds of the loan and investments.
Read also: Marketing of food products and medicine under the Consumer Act of the Philippines
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