ALMOST P600 million worth of financial assistance will be provided to more than 30,000 farmers in Bicol as indemnification for their insured crops which were damaged by Super Typhoon Rolly.
Agriculture Secretary William Dar said the total amount of P592,432,000 was allotted by the Philippine Crop Insurance Corporation (PCIC) as indemnification fund for 32,761 farmers.
Dar made the announcement during a simple program in Polangui, Albay, where he led the distribution of P90 million worth of various assistance to affected farmers and fishers.
Albay is one of the hard-hit provinces in Bicol, where Super Typhoon “Rolly” wrought considerable damage.
The assistance included seeds of hybrid rice, corn and assorted vegetables, urea fertilizer, farm implements, and fishing gears and paraphernalia.
The PCIC-insured farmers and fishers in Bicol region will receive insurance claims, ranging from P10,000 to P15,000 for their crops, farm equipment, fishing boats, and gears damaged by typhoon “Rolly.”
Dar added that affected farmers and fishers can also avail of an emergency and rehabilitation loan worth P25,000 from the DA’s Agricultural Credit and Policy Council (ACPC), under its Survival and Recovery (SURE) Loan Program.
The DA-ACPC has allotted an initial P100 million for Bicol under its Survival and Recovery (SURE) loan program. The loan is non-collateral, has zero interest, and is payable in 10 years.
In his report to Dar, DA Bicol Regional Director Rodel Tornilla said that the initial estimates of agri-fishery damage in Bicol amount to P2.2 billion.
Tornilla added that Albay suffered an initial damage worth P885 M, including P140-M worth of irrigation systems and P66-M worth of fisheries.
During the visit, Dar met with Albay Governor Al Francis Bicharra, Albay Representative Fernando Cabredo, Polangui Mayor Andy Mariscotes, Oas Mayor Domingo Escoto, Jr., Albay Board Members Dante Arandia and Eva Ribayan, and Albay Provincial Agriculturist Cheryll Rebeta.