COTABATO CITY—Ministry of Agriculture, Fisheries, and Agrarian Reform (MAFAR) awarded and released a total of Php1.2-million worth of loans to 12 cooperatives from Maguindanao provinces on Friday, Oct. 21, in this city.
The loans were awarded in check from the Ministry’s MAFARLENDS (Loan for Enhancement for Necessary Development Strategy) Program.
The 12 farmers and fisherfolks cooperatives underwent thorough validation before their approval from the MAFARLENDS 2021 team as the remaining beneficiaries to receive Php100,000.00 each worth of loans payable for three years under the Amortization Plan.
The loan program aimed to let the people of BARMM, especially the farmers and fisherfolks, know that it was committed to helping in uplifting their economic condition by providing funding support and loan assistance.
MAFAR Minister Mohammad Yacob challenged all the recipients to maintain the trust and confidence of the ministry so that more support and engagement will await them in the future if this partnership will be successfully implemented.
“You are our partners, and we have given you our trust and confidence, and it is a test of faith on our part that you will be successful by operating the money legally and conscientiously, so please implement it fully and correctly,” Minister Yacob stressed.
Meanwhile, chairpersons of cooperatives such as Ato Sionga of Magungayam Agri-Fishery Marketing Cooperative and Nida Matabalao Alongan of Bangsamoro Peace Advocate Consumer Cooperative commended the MAFAR and expressed their thanks to the ministry for the opportunity of being chosen among the coops to have benefited from the program. (Kasan Usop, Jr./BIO)
