Legislative History
| House Bill/Resolution NO. HB01976 | |
| FULL TITLE : AN ACT UNIFYING ALL EXISTING AGRICULTURAL CREDIT PROGRAMS FOR THE FARMERS, FISHERFOLK AND MICRO, SMALL AND MEDIUM ENTERPRISES (MSMEs) ENGAGED IN AGRICULTURAL AND FISHERIES, CREATING THE FARMERS AND FISHERFOLK QUICK CREDIT PROGRAM, ESTABLISHING THE AGRICULTURAL CREDIT AUTHORITY OF THE PHILIPPINES (ACAP), AND PROVIDING FUNDS THEREFOR, IN ORDER TO PROMOTE THE DEVELOPMENT OF ENTREPRENEURSHIP IN THE AGRICULTURE AND FISHERIES SECTORS | |
| ABSTRACT : Seeks to consolidate existing agricultural credit programs for MSMEs, thereby creating a lending facility which shall provide small farmers, fisherfolk and MSMEs in the agriculture and fisheries sectors direct, adequate, affordable, and timely credit for their farming and fishing activities.Defines MSME in agriculture-related business activities among others; and states that FFQCP loan shall be provided with no collateral at a low interest rate and with minimal documentary/identification requirements.Intends that FFQCP shall provide grant/financing assistance for the relief and rehabilitation of concerned stakeholders engaged in agriculture/fisheries affected by calamities/fortuitous events; and provide grants and other subsidies for their education, institution capacity building activities, and training asregards to credit awareness, loan acquisition, loan repayment and on financial literacy. | |
| ALIAS NAME : "Farmers, Fisherfolk and MSMEs Engaged in Agriculture/Fisheries Quick Credit Act of 2019" | |
| PRINCIPAL AUTHOR/S : ABELLANOSA, RODRIGO A. | |
| DATE FILED : 2019-07-11 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Flores (000 2019-08-07) | 2. Vergara (000 2019-08-14) |
| 3. Savellano (000 2019-09-10) | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON GOVERNMENT ENTERPRISES AND PRIVATIZATION ON 2019-07-29 | |
| SECONDARILY REFERRED TO THE COMMITTEE(S) ON AGRICULTURE AND FOOD |
Abstract
Seeks to consolidate existing agricultural credit programs for MSMEs, thereby creating a lending facility which shall provide small farmers, fisherfolk and MSMEs in the agriculture and fisheries sectors direct, adequate, affordable, and timely credit for their farming and fishing activities.Defines MSME in agriculture-related business activities among others; and states that FFQCP loan shall be provided with no collateral at a low interest rate and with minimal documentary/identification requirements.Intends that FFQCP shall provide grant/financing assistance for the relief and rehabilitation of concerned stakeholders engaged in agriculture/fisheries affected by calamities/fortuitous events; and provide grants and other subsidies for their education, institution capacity building activities, and training asregards to credit awareness, loan acquisition, loan repayment and on financial literacy.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.