The Department of Agriculture through the Agricultural Credit and Policy Council (DA-ACPC) granted a P10 million loan to the Cebu Peoples Multi-Purpose Cooperative (CPMPC) under the Expanded SURE Aid and Recovery Project or SURE Covid-19 financing program.
CPMPC is an agri-based multipurpose cooperative with more than 70,000 members, mostly farmers.
Gerry Avila, Chief of the Operations Division disclosed that the cooperative is a conduit partner of DA’s Production Loan Easy Access (PLEA) and they take the opportunity to avail of a loan from ACPC at a zero interest.
Macario Quevedo, CPMPC Chief Executive Officer expressed their support to the programs of DA as these are very helpful to our farmers and fishers. “As a partner of DA under the PLEA program, we were able to assist our farmers to avail of credits for their farming activities,” Quevedo said.
“We see how our farmers need assistance. With this pandemic, our farmers are very vulnerable and that they end up losing what they are producing. They are greatly affected, so we need to respond to their needs,” Quevedo added.
Quevedo explained that CPMPC requested P 6.6 million loan for the purchase of 3 units refrigerated van trucks to be used to transport fresh fruits, vegetables and meat products directly to the affected communities in Cebu. However, DA-ACPC decided to grant us with P10 million intended for other needs of their programs. The granted loan is good for 5 years with zero interest.
“We again partner with DA in providing accessible food in this time of pandemic through KADIWA on Wheels and KADIWA online. The CPMPC serves as an assembler/ consolidator of the farm produce of our farmer members,” he added.