Farmers affected by El Niño to receive credit assistance & insurance

The Department of Agriculture (DA) announced on Saturday that the national government is taking steps to provide assistance to farmers and fishers affected by the El Niño phenomenon. Assistant Secretary Arnel De Mesa, the DA spokesman, disclosed that the government plans to allocate at least P500 million in credit assistance to help farmers and fishers cope with the dry spell caused by El Niño. Additionally, approximately P1.8 billion in insurance claims will be distributed to those affected by the phenomenon.

Each affected farmer and fisher may receive up to P25,000 in credit assistance and a maximum of P20,000 in insurance claims. Furthermore, the DA is preparing to distribute P5,000 in financial assistance to rice farmers and P3,000 as a fuel subsidy to both farmers and fishers, as provided under the national budget.

As of February 25, 2024, the damage to agriculture caused by El Niño has been estimated at P357.4 million, primarily affecting farms in the Mimaropa (Mindoro, Marinduque, Romblon, Palawan), Western Visayas, and Zamboanga Peninsula Regions. So far, 7,668 farmers have been affected by the phenomenon.

News: Farmers affected by El Niño to receive credit assistance & insurance