IMEE: INCREASE "NEW NORMAL LOANS" TO AGRI-AGRA SECTORS

Senator Imee Marcos has sought to increase loan releases to farmers, fishermen and agrarian reform beneficiaries by proposing a higher penalty on banks that fall short of the level of lending required by law.

Marcos, who chairs the Senate committee on economic affairs, said the agricultural and agrarian reform (agri-agra) sectors will be needing greater access to "new normal loans" that can help them cope with the changing ways of doing business during and after the Covid-19 pandemic.

"Banks should be more open to providing new normal loans supporting the shift to digitization, particularly e-marketing and e-commerce, green financing for environment-friendly technologies and products, as well as vaccination programs that farmers' cooperatives may take up, even health and wellness tourism that may become a new facet of the agri-agra sectors," Marcos said.

Marcos discovered that total loanable funds that government and private banks withheld from the agri-agra sectors had risen from about Php460 billion in 2017 to more than Php533 billion in 2018, that led her to file Senate Resolution 1038 the next year to investigate the non-compliance and undercompliance of banks with Republic Act 10000.

Marcos's pre-pandemic resolution was finally taken up Wednesday during a hearing of the Senate committee on agriculture, food and agrarian reform chaired by Sen. Cynthia Villar.

Republic Act 10000 requires all banks to allot 25% of their loanable funds to the agri-agra sectors and penalizes violators with a fine of half a percent of the computed discrepancy in required lending.

"An increase of the penalty from 0.5% to 2% can spur better lending, or at least better funding for agri-agra support mechanisms," Marcos said, citing the Agricultural Guarantee Fund Pool and the Philippine Crop Insurance Corporation, which the said law endows with 90% of the penalties collected.

Marcos explained that most banks have been opting to pay the 0.5% penalty than increase their risk on loan approvals to agri-agra borrowers, "who from the outset are already discouraged to borrow by stringent bank loan requirements."

"There will be an end to this pandemic. But the notion of building back better also encompasses ample loan support," Marcos emphasized.

(Tagalog version)

IMEE: "NEW NORMAL LOANS" SA AGRI-AGRA ITAAS

Isinulong ni Senador Imee Marcos na mas maraming pautang ang maapruba para sa mga magsasaka, mga mangingisda at mga benepisaryo ng repormang pang-agraryo kung tataasan ang penalty sa mga bangkong ayaw sumunod sa lebel ng pagpapautang na nakasaad sa batas.

Sinabi ni Marcos, chairman ng Senate Committee on Economic Affairs, na mangangailangan ang agricultural at agrarian reform (agri-agra) sectors ng mga "new normal loans" para makaagapay sa nagbabagong mga pamamaraan ng pagnenegosyo ngayon at sa panahong malampasan na ang pandemya ng Covid-19.

"Dapat mas maging bukas ang mga bangko sa pagbibigay ng mga 'new normal loans' para makasuporta na makasabay sa digitization, partikular sa e-marketing at e-commerce, green financing para sa environment-friendly na teknolohiya at mga produkto, gayundin sa mga vaccination programs na pwedeng talakayin ng mga kooperatiba ng mga magsasaka, maging ang health at wellness tourism na maaaring maging bagong parte ng agri-agra sectors," ani Marcos.

Nadiskubre ni Marcos na ang kabuuang pondong pwedeng utangin na ipinagkait ng mga bangko sa agri-agra sectors ay tumaas mula PHP460 billion noong 2017 hanggang sa mahigit Php533 billion noong 2018, dahilan ng paghain niya ng Senate Resolution 1038 sa kasunod na taon para imbestigahan ang di pagsunod ng mga bangko sa Republic Act 10000.

Natalakay na sa wakas ang resolution ni Marcos nitong Miyerkules ng Senate Committee on Agriculture, Food and Agrarian na pinamumunuan ni Senadora Cynthia Villar.

Inaatasan ng Republic Act 10000 ang lahat ng mga bangko na maglaan ng 25% ng kanilang loanable na pondo sa sektor ng agri-agra at pagmumultahin ang mga di-susunod ng kalahating porsyento ng na-compute na pagkukulang sa kinakailangang pautang.

"Ang pagtaas ng multa mula 0.5% hanggang 2% ay makapag-papasigla ng pagpapautang o magbibigay ng mas sapat na pagpopondo sa mga ahensyang sumusuporta sa agri-agra," ani Marcos, na tinukoy ang Agricultural Guarantee Fund Pool at Philippine Crop Insurance Corporation, na binibigyan ng 90% ng mga nakolektang multa.

Ayon kay Marcos, karamihan sa mga bangko ay mas pinipiling bayaran ang 0.5% na penalty kaysa dagdagan ang pautang sa mga nanghihiram na agri-agra, "na sa simula pa lang ay dismayado nang umutang dahil sa higpit at dami ng requirements sa bank loan."

"May katapusan ang pandemyang ito. Subalit ang pag-asang muling makaahon o makarekober ay mangangailangan ng sapat na pondo," pagdidiin ni Marcos.