Republic of the Philippines
HOUSE OF REPRESENTATIVES.
Quezon City

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SEVENTEENTH CONGRESS
Firs! Regular Session

House sit NAA 73

Introduced by Honorable Michael L. Romero.

EXPLANATORY NOTE

The Agro-Indusity Modemization Credit and Financing Program (AMCFP) was
created by virtue of the Agriculture and Fisheries Modernization Act (AFMA) of
1997 of Republic Act 8435,

The AMCFP serves as the umbrella financing program for agricullure and
fisheries of the Department of Agriculture (DA). It aims to enhance credit access
of the rural poor through the implementation of a comprehensive agriculture,
fisheries and agrarian reform credit and financing system that would benefit
farmers, fisherfolk and small and medium enterprises

This House Bill seeks to promote food security, including sufficiency in our staple
food shall be optimized to meet our local consumption and shall be given
adequate support by the State.

This House Bill seeks to ensure the sufficient funding and proper utilization of
credit for the agrifishery sector.



Republic of the Philippines
HOUSE OF REPRESENTATIVES
Quezon City

SEVENTEENTH CONGRESS
First Regular Session

44°73,

HOUSE BILL NO.

Introduced by Honorable Michael L. Romero

AN ACT

MANDATING THE LAND BANK OF THE PHILIPPINES (LBP) TO
PROVIDE ADDITIONAL FUNDING FOR THE “Agro-Industry
Modernization Credit and Financing Program (AMCFP)” TO

IMPLEMENT CREDIT ASSISTANCE PROGRAMS, DEFINING ITS
FUNCTIONS, AND FOR OTHER PURPOSES |

Be it enacted by the Senate and House of Representatives in Congress
Assembled

SECTION 1. Declaration of Policy - The Land Bank of the Philippines (LBP)
shall hereby provide an additional five hundred million pesos (P500,000,000.00)
for the "“Agro-Indusiy Modernization Credit and Financing Program (AMCFP}" to

implement its functions.

The AMCFP is an agriculture, fisheries and agrarian reform credit and
financing system designed for the use and benefit of farmers, fisher folk those

engaged in food and non-food production, processing and trading,


cooperatives, farmers’ and fisherfolk's organization, and SMEs engaged in

agriculture hereinafter as the "beneficiaries",

SECTION 2. Powers and functions of the AMCFP - The Agro-Industry
Modernization Credit and Financing Program shall include the packaging and
delivery of various credit assistance programs for the following:

a. Agriculture and fisheries production including possessing of
fisheries and agri-based products and farm inputs;

b. Acquisition of work animals, farm and fishery equipment and
machinery;

¢. Acquisition of seeds, fertilizer, poultry, livestock, feeds and other
similar items:

d. Procurement of agriculture and fisheries products for storage,
trading , processing and distribution:

e. Acquisition of water pumps and installation of. tube wells for
irrigation;

f. Construction , acquisition and repair of facilities for production,
processing , storage, transportation, communication, marketing
and such other facilities in support of agriculture and fisheries;

g. Working capital for agriculture and fisheries graduates to enable
them to engage in agriculture and fisheries related economic

activities;

h. Agribusiness activities which support soil and water conservation
and ecology-enhancing activities;

i. Privately-funded and LGU-funded irrigation systems that are
designed to protect the watershed;

j. Working capital for long-gestating projects; and


k. Credit guarantees on uncollaterized loans to farmers and
fisherfolks.

SECTION 3. Appropriation - The amount intended for the implementation
of this Act shall be charged under the existing funding of the Department of
Agriculture.

Thereafter such amounts necessary for the successive and continuous
implementation of this Act, including the operations maintenance of reserves

shall be automatically appropriated in the General Appropriations Act.

SECTION 4. Repealing Clause. All jaws, executive orders, issuances, rules
and regulations inconsistent with this Act are hereby amended, repealed or
modified accordingly.

SECTION 5. Separability Clause. If, for any reason or reasons, any portion
of provision of this Act shall be held unconstitutional or invalid, the remaining

provisions not affected thereby shall continue to be in full force and effect.

SECTION 6. Effectivity Clause. This Act shall take effect fifleen (15) days

after its publication in any newspaper of general circulation.

Approved,