The Department of Agriculture (DA), through the Agricultural Credit Policy Council (ACPC), has launched a loan payment moratorium for qualified farmers and fisherfolk.
Under the program, borrowers with existing loans may apply to suspend repayments for up to one year. Applications will be reviewed and approved by partner lenders such as government financial institutions, rural banks, and cooperative banks.
Priority will be given to borrowers in good standing who are facing temporary financial difficulties due to rising energy costs. The DA said the measure aims to prevent loan defaults, support rural economies, and help maintain food production as higher fuel and fertilizer prices continue to affect the agriculture sector.
Agriculture Secretary Francisco Tiu Laurel Jr. said the moratorium is part of a broader government response under Ferdinand Marcos Jr. to cushion farmers and fisherfolk from the impact of the ongoing energy crisis.
ACPC executive director Rallen Verdadero added that the one-year grace period will allow borrowers to focus on their immediate needs while working to recover and sustain their livelihoods.
The DA said it will coordinate closely with lending partners to ensure the program is implemented smoothly nationwide.
