THE Agricultural Credit Policy Council (ACPC) has implemented a loan repayment moratorium for farmers and fisherfolk to protect livelihoods during the ongoing energy crisis.
Qualified borrowers can apply to suspend debt repayments for up to one year and ACPC Executive Director Rallen Verdadero said the measure would allow food producers to prioritize family and production needs.
Farmers and fisherfolk with current or outstanding loans are eligible with priority to be given to borrowers in good standing. Applications will be subject to review and approval by partner lending conduits.
The ACPC said the measure is anchored on a Department of Agriculture order outlining guidelines for the Survival and Recovery program — a financial assistance framework designed to aid farmers and fisherfolk recover from the effects of calamities, emergencies and economic disruptions.
It added that the move was also aligned with President Ferdinand Marcos Jr.'s declaration of a national energy emergency, which pushed agencies to protect vulnerable sectors from rising fuel and electricity prices.
By offering a one-year grace period, the ACPC said it was aiming to keep borrowers from defaulting on their loans. It added that the program also sought to sustain economic activity and support national food security by maintaining agricultural sector productivity.
Agriculture Secretary Francisco Tiu Laurel Jr. said the loan repayment moratorium was part of a broader government response to help farmers and fisherfolk endure the energy emergency and its effect on production costs.
“The loan moratorium is not a standalone measure but part of a coordinated government effort involving financing institutions, local lending partners and Department of Agriculture agencies working on rural resilience,” he said.
“We are prioritizing immediate relief while strengthening long-term access to credit so our agricultural sector remains productive and stable despite external shocks, particularly rising fuel and fertilizer costs.”
