To help meet the financial needs of farmers and fisherfolks of Marinduque for increase in productivity or operational expansion, a loan program for this sector has been undertaken by the Provincial Government of Marinduque through the PRESBY with LAV Program.
There are around 10,331 farmers in the province and 41.5% are rural farmers. 80% of the population belong to agri-farm families. Around 12,800 individuals are animal raisers engaged in native and commercial hog raising.
There are 17,102 registered fisherfolks living in 81 coastal barangays. There are 2,246 are registered motorized bancas, 1,251 non-motorized bancas and 4,740 fishing gears.
The program is designed to help farmers expand their farms, pay for machine and tractor operations for convenient farming, and to generate additional produce and products for increased income.
For the year 2020, the amount of Php 4,000,000 has been distributed to 800 beneficiaries, and for the year 2021, Php 44,998,000 distributed to 8,998 beneficiaries. Out of Php 28,440,000 allocated for the rest of the year, Php 15,330,000 has been distributed to 3,066 beneficiaries.
Total funding for the project is Php 77,440,000. As of November 15, 2021, the amount of Php 64,328,000 has been distributed to 12,864 beneficiaries.
Organic farmers benefit from the program by having additional finances to establish their Integrated Organic Farms, with the Provincial Agricultural Office (PAO) providing technical support.
Fisherfolks are able to purchase fishing gears they need for increased catch. Livestock raisers are able to secure feeds for their backyard livestock. Small entrepreneurs comprising of eatery owners, snack vendors, fish vendors, handicraft makers and others are also able to have additional capital to expand their operations. Cooperatives and individuals with established business also benefit from the program through loans that are Php 5,000.00 or more.
Through the fast and efficient loan program, therefore, farmers/entrepreneurs and fisherfolks also learn to practice credit discipline.