New DBP Program to Assist 50,000 Rice Farmers in Luzon

The Development Bank of the Philippines (DBP) has launched a new program aimed at assisting 50,000 rice farmers during the dry cropping season. The initiative, called Agri-Puhunan at Pantawid (APP), provides low-cost credit and market support to farmers in Luzon, with plans to expand to the Visayas and Mindanao.

DBP board director Roberto Antonio announced that the program, launched in Guimba, Nueva Ecija, will offer financial aid to 5,000 local rice farmers, with plans to expand the program’s reach. The goal is to enlist 1 million farmers, each producing five tons of rice under the initiative, to strengthen food security.

Through the APP, rice farmers will receive intervention monitoring cards for purchasing seeds, fertilizers, pesticides, and services. The DA and DBP have allocated P3 billion for the program, offering low-interest loans and subsistence allowances. Eligible farmers will receive P58,000, with a subsistence allowance of P32,000 over four months, along with subsidies for inputs and insurance.

Antonio emphasized that the program aims to break the cycle of farmers resorting to high-interest loans and will help uplift their living conditions. Farmers will be encouraged to sell five tons of rice to the National Food Authority (NFA) at P21 per kilogram.