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The Agriculture, Fisheries and Rular Development Financing Enhancement Act of 2022 (Republic Act No. 11901).

Country/Territory
Philippines
Document type
Legislation
Date
2022
Source
FAO, FAOLEX
Long title
An Act strengthening the financing system, including capacity-building and organization for agriculture, fisheries, and rural development in the Philippines, repealing for the purpose of Republic Act No. 10000 or The Agri-Agra Reform Credit Act of 2009.
Subject
Agricultural & rural development, Environment gen., Fisheries
Keyword
Credit Agricultural development Family farming Social protection Policy/planning Subsidy/incentive Smallholders/peasants Equipment Financial agricultural measures Financing Fiscal and market measures Rural employment Sustainable development Farming Environmental planning Special fund Enforcement/compliance Data collection/reporting Offences/penalties
Geographical area
Asia, Asia and the Pacific, East Asian Seas, North Pacific, South-Eastern Asia
Entry into force notes
This Act shall take effect fifteen (15) days after its publication in the Official Gazette or in a newspaper of general circulation.
Abstract

This Act implements policy of the government for promoting rural development by enhancing access of rural communities and agricultural and fisheries households to financial services and programs that increase productivity, market efficiency, modernization for improving the welfare and economic prospects of beneficiaries in rural communities. The Act provides for an agriculture, fisheries, and rural financing system particularly for the farmers, agricultural lessees, farmworkers and fish-workers. The text provides for setting aside a credit quota by the banks for agriculture and fisheries financing. The Act further outlines the compliance moods by the banks, annual reports by the Bangko Sentral ng Pilipinas (BSP), penalty clause and special fund allocation and use of special fund. The Act contains 17 Articles.

Full text
English

References - Legislation

Repeals

Agri-Agra Reform Credit Act of 2009.

Legislation | Philippines | 2009

Keyword: Credit, Agricultural development, Family farming, Social protection, Land reform, Agricultural land, Policy/planning, Subsidy/incentive, Institution, Court/tribunal, Smallholders/peasants, Equipment, Farming

Source: FAO, FAOLEX