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MANILA – The Department of Budget and Management has agreed to a proposal by a bicameral committee to release P1.9 billion from the Agricultural Competitiveness Enhancement Fund for farmers, Senator Francis “Kiko” Pangilinan said on Thursday.
In the en banc meeting of the Congressional Committee on Agriculture and Fisheries Modernization held August 16 at the Club Filipino, DBM Secretary Butch Abad agreed in principle to release the ACEF through the Department of Agriculture.
Pangilinan said more than 60 percent of the fund is earmarked for grants, 30 percent for approved loans, and 10 percent for scholarships.
"We could not have been more pleased with what we have accomplished in this meeting. We have been discussing the mechanics and addressing the loopholes that have left the ACEF program riddled with corruption and controversies. We know the program could work to benefit the agriculture sector,” the senator said.
“We commend those who have patiently worked with the COCAFM in rebuilding the ACEF program and making it more relevant in meeting the current needs of our farmers and fisherfolk. Now we have a clearer roadmap for enhancing competitiveness for our small farmers through this new and improved ACEF,” he said.
Pangilinan also called on the DA, Department of Finance and COCAFM to sign a memorandum of agreement, ensuring that duties raised from the minimum access volume scheme will go directly to the ACEF. From 2007 to 2012, MAV collections went to the general fund of the national budget.
"While we could not, and should not, disregard the unpaid loans and mishandling of ACEF funds in the past, it is important that the program continue and be implemented properly, as this can help improve the lives of our farmers and fisherfolk. Now with the help of all the stakeholders both in the public and private sector, we are now seeing the fulfillment of the mandate of the ACEF,” the senator said.
During the en banc meeting, Agriculture Secretary Proceso Alcala said the DA will start processing grant and scholarship applications in September.
"The timeline between the approval of the new ACEF guidelines to its full implementation and release of funds were done in a little over a year," Pangilinan said.
Also present in the en banc meeting were representatives of various agricultural and fisheries cooperatives.
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