THE Development Bank of the Philippines (DBP) is open to availing of government funds manged by Maharlika Investment Corp. (MIC) to support the newly-launched Agri Puhunan at Pantawid (APP) project.
THE Development Bank of the Philippines is open to availing of government funds manged by Maharlika Investment Corp. to support the newly-launched Agri Puhunan at Pantawid project.A collaboration between the DBP and the Department of Agriculture , the project aims to assist farmers via the provision of low-cost credit.'I will seek for an appointment with the people from Maharlika and ask if they might want to join,' DBP Director Roberto Antonio told reporters on Wednesday.
In turn, farmers are required to sell 5 tons of their harvest to the National Food Authority at a guaranteed price of P21 per kilo, with potential earnings of P105,000 per hectare. With excess produce, total earnings could reach P119,000 per hectare.To prevent the misuse of the IMC, Antonio said the farmers' physical presence would be required for transactions. 'They can't pawn ,' Antonio stressed, adding that only the cardholder can avail of its benefits.Planters Products Inc.
Open To Use Maharlika Fund For Farmers Project
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Maharlika fund may start investing in next 2 to 3 months, eyes energy projectsSince November 2023, Maharlika Investment Corporation has earned a total interest income of around P1.5 billion
Read more »
Maharlika fund posts P1.5-b income ahead of investmentsDefining the News
Read more »
For Maharlika, the pressure is onTHE Maharlika Investment Fund (MIF) is off to a slow start.
Read more »
Sans approved route plans, DBP cautious on lending further to PUV co-opsPOOR planning and execution of the Public Utility Vehicle Modernization Program (PUVMP) left jeepney drivers unable to pay back their loan obligations to state-run Development Bank of the Philippines (DBP), which has ceased further lending in Metro Manila and areas without approved route plans.
Read more »
Landbank, DBP stop merger plan, seek more capital and possible IPO insteadFinance Secretary Ralph Recto says increasing the authorized capital stock of both state banks could pave the way for them to be the first government companies to go public
Read more »
Group opposes Mandaue’s plan to secure P3-B DBP loanSunStar Publishing Inc.
Read more »