Balunu Carreon Farmers Association in Salaan, Zamboanga City is one of the PCA-IX KEDP sites that passed the eligibility requirements for the Agricultural Competitiveness Enhancement Fund (ACEF)of the Landbank of the Philippines (LBP), which provides financial support for the members of the association who planted cacao seedlings from PCA’s Coconut Intercropping Project (CIP).

The association became a bona fide KAANIB Enterprise Development Project (KEDP) site on February 2018. They received 25,000 grafted cacao seedlings, 100 sacks complete fertilizer, and 100 bags organic fertilizer on May 2019, under the Coconut Intercropping Project (CIP). Out of the 106 members of the association, 58 members had availed the ACEF program.

The total loan amount approved by LBP for the association is P7,309,925.00, with an interest rate of 6% per annum. The initial 50% of the approved loan amount was directly deposited to the members’ personal account on December 13, 2019 which served as an initial support for the expenses incurred for land preparation. The other 50% remaining loan balance shall be release for the fertilization and control of weeds, pests, and diseases of the planted cacao seedlings.

The main goal of ACEF is to provide necessary credit to farmers, fisherfolks, cooperatives/association and SMEs, to increase productivity and to establish an agricultural lending program that enhances competitiveness of target beneficiaries, especially the small farmers and fisherfolks.

By: PCA Region IX