PRODUCTION LOAN EASY ACCESS (PLEA) BORROWERS GAIN FARM BUSINESS PRACTICES THROUGH FINANCIAL LITERACY TRAINING

Participating farmers confirming her co-participant if the details that she inputted are correct.

BANGA, Aklan – Five batches of Financial Literacy Training were conducted from July to December 2019 in the provinces of Aklan, Antique, Iloilo, and Capiz with 159 Production Loan Easy Access (PLEA) borrowers that served as participants.

The training’s focus is on the significance of financial literacy, Filipino values, business cycle, the character of successful businesses, and financial recordkeeping that enhance the participants’ knowledge, skills, and attitude on financial literacy.

PLEA is a special credit facility designed to address the financial needs of marginal and small farmers and fisher folk for a fast, convenient and affordable credit. These non-collateralized loans for agri-fishery production will be provided under the PLEA through cooperative banks, cooperatives, and non-government organizations (NGOs) as credit delivery channels. The loan is payable from two to 10 years with an interest rate of 6% per annum (ACPC, 2019).

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