Republic of the Philippines 
HOUSE OF REPRESENTATIVES 
Quezon City 
19TH CONGRESS 
First Regular Session 
HOUSE BILL NO. _______ 
Introduced by Honorable Michael L. Romero 
EXPLANATORY NOTE 
The Agro-Industry Modernization Credit and Financing Program (AMCFP) was 
created by virtue of the Agriculture and Fisheries Modernization Act (AFMA) of 
1997 or Republic Act 8435. 
The AMCFP serves as the umbrella financing program for agriculture 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, fisher folk 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 agri-fishery sector. 
Thus, the early passage of this bill is earnestly requested. 
MICHAEL L. ROMERO Ph.D. 
July 1, 2022 
11:07 am
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Republic of the Philippines 
HOUSE OF REPRESENTATIVES 
Quezon City 
19TH CONGRESS 
First Regular Session 
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 
POWERS AND 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 for the Agro-Industry Modernization Credit and Financing Program 
(AMCFP) to implement its powers and 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". 
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SECTION 2. 
POWERS AND FUNCTIONS 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; 
c. 
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 uncollateralized 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 laws, 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 or 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 
fifteen (15) days after its publication in any newspaper of general circulation. 
Approved,