Bill Type
Congress Name
Long Title
AN ACT EXPANDING THE COVERAGE OF AND THE CONDUIT NETWORK FOR AGRI-AGRA CREDITS, PRESCRIBING A FIXED PERCENTAGE OF THE FUNDS FOR LENDING TO SMALL FARMERS AND FISHERFOLKS, AND FOR OTHER PURPOSES THEREBY AMENDING PRESIDENTIAL DECREE NO. 717 OTHERWISE KNOWN AS THE AGRI-AGRA LAW
Date filed
July 1, 2004
Scope
Legislative History
| House Bill/Resolution NO. HB00940 |
| FULL TITLE : AN ACT EXPANDING THE COVERAGE OF AND THE CONDUIT NETWORK FOR AGRI-AGRA CREDITS, PRESCRIBING A FIXED PERCENTAGE OF THE FUNDS FOR LENDING TO SMALL FARMERS AND FISHERFOLKS, AND FOR OTHER PURPOSES THEREBY AMENDING PRESIDENTIAL DECREE NO. 717 OTHERWISE KNOWN AS THE AGRI-AGRA LAW |
| ABSTRACT : This bill requires banks to grant 25% of their loanable funds to the agriculture and fisheries sectors, 50% of which shall be lent to small farmers and fisherfolk. Prohibits the diversion of the 10% agrarian reform share to government securities. |
| PRINCIPAL AUTHOR/S : SYJUCO, JUDY |
| DATE FILED : 2004-07-01 |
| SIGNIFICANCE: NATIONAL |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON BANKS AND FINANCIAL INTERMEDIARIES ON 2004-07-28 |
Abstract
This bill requires banks to grant 25% of their loanable funds to the agriculture and fisheries sectors, 50% of which shall be lent to small farmers and fisherfolk. Prohibits the diversion of the 10% agrarian reform share to government securities.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.