ECD launched in Cebu, residents can now take out loans for business

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CEBU CITY, Philippines -- The Cebu Provincial Government has partnered with three banks to provide loans for provincial residents venturing into food production businesses for the Enhanced

Cebu Governor Gwendolyn Garcia leads the launching of the Enhanced Countryside Development, Capitol’s economic program designed to revive the economy in the countryside. The launching was done on March 5, 2021, in the town of Panamungajan with Presidential Spokesperson, Secretary Harry Roque as the special guest. | CDN Digital photo by Delta Dyrecka Letigio

The banks have agreed to provide at least a P20 billion loan to farmers and fishermen and small and medium enterprises to help them recover from the economic impact of the Coronavirus Disease 2019 . The African Swine Fever outbreak also made her realize that there was a demand for feeds made of yellow corn and cassava.

The province previously launched the Sugbusog and Sugbonegosyo, which were Capitol-funded programs to help the agriculture, fisheries, and SMEs sectors. The application will then go through a review process at the Provincial Agriculture Office and if approved, the PAO will recommend the application to a partner bank.

 

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